Victorian detectives have just arrested a third man in a $100 million home loan fraud scandal which involves six banks.
Detectives from the Fraud and Extortion Squad announced this morning that a 43-year-old Rowville man has been taken into custody as part of an ongoing investigation into a $100 million fraud.
The man, who has not yet been named, has been interviewed by police and charged with more than 140 fraud related offences. He will appear at the Melbourne Magistrates’ Court shortly.
The complex and decade-long scam relates to fraudulent loans secured by an accounting firm and involves five men. Two have been named so far.
On Wednesday, professional poker player Bill Jordanou, 55, appeared before the Melbourne Magistrates Court, charged with 142 charges relating to fraud and theft between 2004 and 2013.
Jordanou, who said he would defend himself against the charges, was released on bail and will next appear before court on 17 September.
The court was told his alleged co-conspirators, Robert Zaia, Scott Arthur, and Wayne Collins would be charged shortly,
The Age reported. Another associate, Frank Porcino, has already been charged.
Commonwealth Bank of Australia was the original complainant in the ‘particularly complex’ case, prosecutor Luke Excell told the court on Wednesday.
The alleged fraud also involved
ANZ,
Westpac,
Bankwest, St George and
Bank of Queensland.
Jordanou is alleged to have drawn funds using false client approvals and invoices, ATO documents, letters of employment and financial statements, which were then used across various property developments.
CBA is said to have foreclosed on the homes of victims despite the bank being alerted to the alleged scam for more than four years, reported
The Age.
