Sydney mortgage broker banned for fraud

ASIC has permanently banned former Sydney-based mortgage broker Aleksandra Frizzell following fraud convictions.

Frizzell was a mortgage broker, accredited with Beagle Finance Pty Ltd between 2013 and 2017 and Supra Financial Pty Ltd between 2017 and 2018.

Between 2015 and 2019, Frizzell dishonestly obtained funds from an employee, clients and people purchasing goods on Facebook Marketplace.

Frizzell was convicted of 17 counts of dishonestly obtaining a financial advantage by deception, three counts of dealing with identity information to commit and indictable offence, and one count of dishonestly obtaining property by deception in the Newcastle Local Court and was sentenced to four years’ imprisonment.

Inside Aleksandra Frizzell’s ban

Under the Corporations Act and the National Consumer Credit Protection Act, ASIC may permanently ban a person from the financial services and credit industries if they are convicted of fraud.

Consequently, based on her convictions, Frizzell has been banned permanently.

The ban prohibits Frizzell from:

• providing any financial services or engaging in any credit activities,
• controlling an entity that carries on a financial services business or engages in credit activities, and
• performing any function for an entity carrying on a financial services business or engaging in credit activities, including as an officer, manager, employee or contractor.

 Frizzell’s ban took effect on July 15, 2024.

Frizzell has the right to apply to the Administrative Appeals Tribunal for a review of ASIC’s decision.

ASIC maintains a banned and disqualified persons register that provides information about people who have been disqualified from:

• involvement in the management of a corporation,
• auditing self-managed superannuation funds (SMSFs), or
• practising in the financial services or credit industry.