Former mortgage broker convicted for falsifying loan applications

Date Time
Former mortgage broker convicted for falsifying loan applications
Former mortgage broker Jia Ge of Sydney, NSW has been convicted of giving misleading information in five home loan applications.
Mr Ge is a former mortgage broker and former director of Dollars R Us Pty Ltd ACN 165 438 595 (Deregistered) (Dollars R Us). Mr Ge previously held an Australian credit licence and Dollars R Us operated as a credit representative of Mr Ge.
ASIC’s investigation found that between 16 February 2017 and 17 May 2017, four customers engaged Dollars R Us to help secure loans to purchase properties. The scheme involved each of the applicants paying money to Australian Realty Pty Ltd ACN 611 904 208 (Deregistered) (Australian Realty) of which Mr Ge was a former director. Mr Ge periodically transferred money back to the customers to give the false appearance that they were employees of Australian Realty and earning a regular salary.

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