A mortgage broker from Sydney is charged in court with conducting fraudelent activities over a period of seven months with the view of receiving mortgage commissions. It is alleged that the broker falsified bank account statements and created fake pay slips on behalf of clients.
Yan Li, 30, of Wolli Creek in Sydney’s south, is charged with 27 fraud offences involving numerous home loan applications with the intention of obtaining a commission.
His case was mentioned on Tuesday at North Sydney Local Court, and was adjourned to August 31.
Li was not present in court and a solicitor acting on his behalf did not enter a plea.
The loan applications were allegedly valued at more than $17 million and were lodged with Suncorp Bank.
Police allege the fraudulent loans were lodged between December 2009 and June 2010, ranging from $260,000 to $2.56 million.
Police have raided the broker’s office in Pyrmont and have collected various evidence to support the mortgage fraud allegations.