A Sydney mortgage broker has pleaded guilty to making a false statement to the Australian Securities and Investments Commission (ASIC).
Shiwei He, director of N V I Lending, trading as General Mortgage, lodged a credit licence annual compliance certificate with ASIC in February 2019, where he certified that he and the people under his Australian credit licence had not had their accreditation suspended or cancelled by a lender or their membership with an aggregator terminated.
The certification was false, as He knew his accreditations with Commonwealth Bank, ANZ, NAB, and Westpac had been suspended or cancelled between 2016 and 2018. He was also aware that his introducer agreement with the Beagle Finance aggregator service, trading as Loankit, had been terminated in 2018.
The Commonwealth Director of Public Prosecutions is prosecuting the matter, with He facing a maximum penalty of 12 months’ imprisonment and/or a $12,600 maximum penalty.
The sentence will be released on March 29, 2022.
