Patrick Hatch
A man has pleaded guilty to conspiring in a $79 million home loan fraud against some of Australia’s biggest banks.
Mohamed Radhi Maki Ebrahim Ahmed was arrested on December 19 and faced Melbourne’s Magistrates Court on February 10, but the proceeding was subjected to a suppression order which expired on Friday.
Mr Ahmed, 28, pleaded guilty during the committal proceeding to one charge of conspiring to defraud financial institutions stemming from his involvement with Myra Financial Services, which operated out of Footscray, in Melbourne’s west.
According to a statement released by the Australian Securities and Investments Commission on Monday, Mr Ahmed pleaded guilty to conspiring with Najam Shah, 55, and Aizaz Hassan, 34, to use false documents to support loan applications submitted on behalf of Myra clients between December 2009 and December 2011.
The fake document included bank statements, pay slips, citizenship documents and statutory declarations, the statement says.
ASIC said these documents were used to support at least 350 loan application to banks including the Commonwealth Bank, Westpac, St George, Citibank, NAB, ANZ, Suncorp Bank and the Bank of Queensland.
Mr Shah and Mr Hassan were arrested and charged on January 2 and have been bailed to appear in Melbourne Magistrates Court on April 17.
Mr Ahmed has been bailed and will be sentenced in the County Court on April 16.
Source: smh
