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Friday 25 June 2021

21-149MR ASIC obtains Federal Court orders against Remedy Housing

ASIC has moved to shut down an unlicensed mortgage lender that appears to have been engaging with customers primarily from the Pacific Islander community in Australia and New Zealand.

ASIC successfully obtained interim orders and injunctions from the Federal Court against Mr Brent Lindsay Smith, Mr Mahmoud Khodr and Mr Trevor Leota (the Defendants) and Remedy Housing Pty Ltd (Remedy Housing).

Remedy Housing is operated by Mr Smith and Mr Khodr as director and secretary respectively, with Mr Leota also involved in the business. ASIC has alleged that the Defendants and Remedy Housing are:

  • carrying on a financial services business and engaging in credit activities without holding an Australian financial services licence or an Australian credit licence;
  • engaging in misleading or deceptive conduct while carrying on a financial services business;
  • making false or misleading representations regarding financial services and financial products that involve interest in land;
  • giving false or materially misleading information when engaging in a credit activity; and
  • obtaining property and financial advantage by deception.

Remedy Housing advertises on its website and social media platforms that it can provide customers with ‘interest free mortgages’ upon receipt of a $10,000 deposit.

Between 7 November 2019 to 10 March 2021, approximately 123 potential customers deposited a total of $1,484,250 into a bank account in Remedy Housing’s name.

On 17 June 2021, the Court found there was a need to protect aggrieved persons and made the following orders on an ex parte basis:

  • asset preservation orders against the Defendants, their wives and Remedy Housing;
  • orders requiring the disclosure of information to ASIC against each of the Defendants, their wives and Remedy Housing; and
  • travel restraint orders for the Defendants.

On 24 June 2021, the Court also made further orders restraining the Defendants and Remedy Housing from carrying on or promoting the Remedy Housing business. The Defendants and Remedy Housing were ordered to take down the website and associated social media promotions.

These orders were made pending a final hearing into the conduct of the Defendants and Remedy Housing in which ASIC is seeking a permanent injunction preventing the Remedy Housing business from operating.

ASIC’s investigation into the Defendants and Remedy Housing remains ongoing.


17 June ex parte judgment

17 June ex parte orders

24 June orders


In response to the COVID-19 pandemic’s impact on the financial system and the potential for harm that this has created, ASIC has implemented a set of pandemic-related enforcement priorities that guide our response to misconduct. This misconduct includes opportunistic conduct seeking to exploit the current environment, such as predatory lending practices, scams, unlicensed conduct and misleading and deceptive advertising. has information to help consumers with property investments and home loans.

Last updated: 25/06/2021 04:21