Original article by Chris Vedelago, Georgia Wilkins
The Australian Financial Review – Page: 5 : 7-Jan-15

The Australian Securities & Investments Commission has issued details on a case of two men allegedly committing fraud against the four main banks and other mortgage lenders. It is being claimed that the accused used the Footscray branch of Myra Financial Services to lodge loan applications with sham documents, causing a loss of a total $A110m across 350 mortgages. Prison terms of up to 15 years each may be imposed, on a charge of obtaining financial advantage by deception

CORPORATES
MYRA FINANCIAL SERVICES, WESTPAC BANKING CORPORATION – ASX WBC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, CIGNA FINANCIAL PTY LTD, AUSTRALIAN FINANCE GROUP PTY LTD, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, MELBOURNE MAGISTRATES’ COURT, PREMIUM FINANCIAL SERVICES, RAMS HOME LOANS PTY LTD