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Monday 7 December 2020

20-313MR Former finance broker pleads guilty to fraud

On 1 December 2020, at the Dandenong Magistrates Court, Mr Adam Edward Greene was sentenced after pleading guilty to four counts of fraud involving approximately $85,300.

The charges arose from an investigation by ASIC into Mr Greene’s conduct between 2014 and 2015, while he was a finance broker of a Cranbourne used-car dealership, Combined Motor Traders. Mr Greene wrote and submitted four loans for customers who had applied for a car loan. These loans contained false documents that had not been provided to him by the customers. The loans were approved by Esanda, a division of ANZ, and totalled $85,300.

The charges related to Mr Greene submitting false documents to secure a loan that ordinarily may not have been approved.

The matter was prosecuted by the Commonwealth Director of Public Prosecutions after an investigation and referral of a prosecution brief by ASIC.

His Honour Magistrate Halse imposed an aggregate fine of $3,000 without conviction.

Background

In May 2017, ASIC permanently banned Mr Greene from engaging in credit activities (17-134MR).

 

Last updated: 07/12/2020 01:35