Two men charged over home loan conspiracy

TWO Melbourne men have been arrested and charged over a $110 million home loan conspiracy.

Najam Shah, 55 and Aizaz Hassan, 34, were charged with conspiracy to defraud following an Australian Securities and Investments Commission investigation into the use of false documents in support of loan applications.

It is alleged that between April 2008 and December 2011 the men conspired to defraud banks and other financial institutions after creating and using false documents to support loan applications submitted on behalf of their clients.

The alleged conspiracy involves submission of false documents for more than 300 loan applications to numerous banks and financial institutions across the country.

Each was granted bail under strict conditions which included they report to police twice a week, surrender valid passports and not go near any points of international departure.

They will face Melbourne Magistrates Court on April 17.

- APN NEWSDESK.


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