"The sentences imposed reflect the seriousness of offending," says SFO
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"Such fraud undermines lenders' confidence in borrowers in the mortgage market," says SFO
Simon Turnbull has been arrested at the border and since pleaded guilty to a nearly $50 million mortgage fraud.
The ring leader of a $9.2m mortgage fraud scheme has today been sentenced to five years imprisonment.
An Auckland woman and six other participants in a fraudulent scheme involving 11 properties in the city and totalling about $9.2 million, have been found guilty.
Serious Fraud Office director Julie Read says the charges serve as a warning to banks and property owners alike
