Auckland man on trial over low-cost housing fraud scam

Mohammed Ayub, 38, of Massey, in Waitakere City, faces 46 charges in the High Court at Auckland, including obtaining or attempting to obtain a pecuniary advantage by false pretences, forgery, using a document to defraud, threatening to kill, carrying on a business fraudulently and perjury.

In his opening address, prosecutor Kevin Glubb characterised Ayub as "cunning, calculating and creative" in his dealings with 10 house-buyers and numerous financial institutions.

Ayub was said to have advertised an attractive no-deposit scheme, which offered the prospect of an affordable entry into the housing market, sometimes with a free car thrown in.

But Mr Glubb said it was nothing but a sham.

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