[First filed: August 29, 2008 @ 10:12]
The Australian Securities and Investments Commission has put out a media release on their prosecution of one Mr Kelvin Skeers of Queanbeyan in the ACT Magistrates Court.
- Mr Skeers, a former mortgage broker with Tonadale Pty Ltd (trading as ACT Mortgages) faces one charge under s126(2) of the Crimes Act 1900 (ACT) and six charges under s347
of the Criminal Code 2002 (ACT) following an ASIC investigation into his conduct between December 2003 and September 2005.
ASIC alleges Mr Skeers knowingly used false accountants’ letters with the intention of inducing a lender to approve low-documentation (low-doc) loans for seven borrowers. Without this false documentation, ASIC alleges these borrowers may not have successfully secured the necessary finance.
UPDATE: BrokerNews reports that he’s plead guilty. Sentencing on 26 November.