Fraud

Werden v The Queen [2015] VSCA 72

This was the appeal of a convicted mortgage fraudster, former lawyer, Gabriel Werden. It is instructive for those who wish to avoid mortgage fraud. The fraudster created an account online with SAI Global, a licensed Land data broker which allows access to Landstat (Victorian Titles Office) products and information via its website, in a nominated …

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FMMI v Pittman (No 4) [2015] NSWSC 265

The borrowers’ loan was wholly set aside at first instance. Click here to see our case note.  On appeal the lender succeeded in having the borrowers’ repay the amount of the loan that went towards discharge of their earlier loan. Click here to see our case note.  The borrowers’ cross-claim against the fraudster which had previously been …

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Citigroup v Middling [2015] NSWSC 221

A borrower on a disability pension was conned by a loan originator to borrow against his home to make an investment that would pay off his remaining mortgage of $15,000 and give him a good return. The originator included false documents in the loan application for $240,000, including a false valuation. The investment was made, …

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Perpetual Trustees v Xiao [2015] VSC 21

A husband wanted to purchase a restaurant but had a bad credit rating so he transferred his home to his wife and then forged her signature on the mortgage to finance his purchase. The loan went into default and the lender claimed possession. The court found that the wife was a pawn in her husband’s …

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GEL Custodians v Gibson [2014] WASC 433

The borrowers alleged that: The loan monies were not advanced to them.  The lender’s claim is fraudulent in intending to mislead the court to believe that the lender provided valuable consideration to the defendants. The loan application was prepared by a mortgage originator, as agent of the lender. It was forged and included false and …

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Landa v Perpetual Trustees Victoria [2014] NSWCA 393

We have previously reported the trial judge’s decision in this case. A doctor was hoodwinked by a fraudulent mortgage broker. The broker told the borrrower he was going to invest money the doctor had, as well as money he arranged for the doctor to borrow from Perpetual Victoria. Instead, he misappropiated it. The doctor sought declarations …

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NAB v Smith [2014] NSWSC 1605

A naive, simplistic salesman was talked into buying a two year old business where he worked as a salesman for $2 million. He had no inkling of the businesses financials but the bank did and encouraged him. The bank also fell victim to questionable documents emanating from a broker’s office.  The parents of the borrower …

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Rubino v ANZ [2014] NSWCA 362

A husband and wife owned three properties, living on one and operating a flower farming business on the other two. They borrowed money from the bank. There was a dispute with the bank which ultimately resolved at farm debt mediation, the bank reducing the debt from $6M to $2M and releasing their home. They allowed …

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Bendigo and Adelaide Bank v Stamatis [2014] NSWSC 1233

A son borrowed money secured by his parents’ house by a mixture of forging their signatures and telling them it was to refinance their mortgage. In fact, they were increasing their loan from $40k to $440k. In addition, the parents were Greek, had limited English and Several months after settlement, the loan was split into …

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