Aggregated News From Investment Management Regulators

Former finance broker pleads guilty to fraud

Report/Flag

Please complete the required fields.



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).

Source Link.

Regulator Information

Abbreviation: ASIC
Jurisdiction: Australia

Recent Articles

Ernesto A. Lanza Named Acting Director of SEC Office of Municipal Securities

Washington, D.C., Dec. 3, 2021 — The Securities and Exchange Commission today announced that Ernesto A. Lanza will serve as Acting Director of the Office of Municipal Securities (OMS). Mr.

Tender regarding the ‘Provision of services of two Office Admins/Telephone Operators

The Cyprus Securities and Exchange Commission (‘CySEC’) wishes to announce that it has issued the public Tender No. 19/2021 for the ‘Provision of services...

Nexus IFA (Clone of FCA Authorised Firm)

Fraudsters are using the details of firms we authorise to try to convince people that they work for a genuine, authorised firm. Find out...

Blanket Order 52-503 – Exemption from National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure

Regulated Industries FCNB is responsible for the regulation and enforcement of securities, insurance, pensions, credit unions, trust and loan companies, co-oper

Deutsche Wallet (Clone of FCA Authorised Firm)

Fraudsters are using the details of firms we authorise to try to convince people that they work for a genuine, authorised firm. Find out...

Get the latest from Regulatory.News in your inbox!

×