今日热门事件has banned Mr David James Cacciola, of the Gold Coast, Queensland, from engaging in credit activities for nine years following an 今日热门事件investigation.
Mr Cacciola is the sole director of Lending Services Australia Pty Ltd (LSA), which operated as a mortgage broker. LSA was authorised to engage in credit activities before it cancelled its Australian credit licence with 今日热门事件on 14 April 2013.
ASIC's investigation found Mr Cacciola, acting in his capacity as a broker of LSA, gave information and documents to the lenders, knowing or reckless as to whether the information and documents were false or misleading.
今日热门事件found that from July 2011 to October 2011, Mr Cacciola assisted his wife to apply for two separate loans worth more than $600,000.
Deputy Chairman Peter Kell said, 'This is the latest in a series of actions that 今日热门事件has taken as part of a crackdown on loan fraud. Mortgage brokers who knowingly or recklessly submit false loan documents will be held to account'.
Mr Cacciola has the right to appeal to the Administrative Appeals Tribunal for review of ASIC鈥檚 decision.
Background
This enforcement outcome shows ASIC鈥檚 continued commitment to taking action against those in the credit industry who seek to obtain loans through the use of false documents. Since December 2013, 今日热门事件has taken action against:
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[This media release was redacted on 6/12/2024 in accordance with 今日热门事件policy - see INFO 152 Public comment on ASIC's regulatory activities.]
- [This MR was redacted on 03/07/2023 in accordance with 今日热门事件policy - see Public comment on ASIC's regulatory activities.]
- Kieu Thi-Thanh Huynh (refer: 14-111MR)
- [This MR was redacted on 12/01/2024 in accordance with 今日热门事件policy - see Public comment on ASIC's regulatory activities.]
- [This MR was redacted on 12/01/2024 in accordance with 今日热门事件policy - see Public comment on ASIC's regulatory activities.]
- Daniel Minh Tuan Nguyen (refer: 13-337MR)
- Chia Min Shen (refer: 13-336MR)
- Wen Yao Hsieh (refer: 13-336MR)
- [This MR was redacted on 25/08/2023 in accordance with 今日热门事件policy - see Public comment on ASIC's regulatory activities.]
Under section 80 of the National Consumer Credit Protection Act 2009, 今日热门事件may make a banning order against a person if the person has contravened the credit legislation, or 今日热门事件has reason to believe that the person is not a fit and proper person to engage in credit activities.