Victorian broker Kieu Thi-Thanh Huynh, of Sunshine, has been sentenced to four years in prison, with a minimum of two years served before she becomes eligible for parole after being convicted of serious fraud offences.
Huynh has also been permanently banned by ASIC from engaging in credit activities and has been disqualified from managing a corporation for five years.
In February this year she pleaded guilty in the Supreme Court of Victoria on 27 charges of obtaining more than $9.4 million of property by deception. She was also charged with one attempt to obtain property by deception.
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As the former sole director of St Andrews Mortgage Solutions Pty Ltd (SAMS), she was authorised between July 2010 and March 2013 for a number of Australian Credit Licensees.
The charges related to her involvement in creating false payslips to provide to various credit providers, supporting loan applications which she submitted on behalf of her clients. 27 loan applications totalling $9,411,688.30 were successful.
Huyhn’s upfront commissions were $41,231.14, with trailing commissions of $14,510.85, a total of $55,741.99. She also received cash payments of $10,000 in relation to the false payslip scheme.
Huhyn has the right to appeal.
This article first appeared on Property Observer.