61 mortgage fraud charges filed

They will be asked to plead to 61 charges under the Crimes Act, the Secret Commissions Act and the Financial Markets Authority Act.

FMA response and enforcement executive director Louise Unger says this type of alleged mortgage fraud undermines trust and confidence in New Zealand’s lending system and financial institutions.

“Mortgage fraud is one of our key regulatory priorities. The FMA is taking this action to both hold those responsible to account and to deter others from engaging in similar conduct.”

As the matter is before the courts and subject to some suppression orders the FMA cannot comment further.