Four people charged in a $40m mortgage fraud case have pleaded not guilty.
Four people charged in a $40m mortgage fraud case have pleaded not guilty.
Manager, banker, lawyer and director are the occupations of the four charged in a mortgage fraud case, according to court documents.
The case involved more than $40 million of loans and accusations of kickbacks to bank employees, the NZ Herald reports.
The charges facing the four include obtaining by deception over information provided to secure more than $40m in mortgages on dozens of properties within the cities of Hamilton and Auckland.
Three were also charged with breaching the Secret Commissions Act.
Those charges allege that payments between $5000 to more than $30,000, were paid by and to bank staff as reward for approving suspect mortgage applications.
Total kickbacks paid allegedly exceeded $500,000, according to the Serious Fraud Office.
The not guilty pleas were made during a short hearing in the Auckland District Court on Friday and the case will continue in court in March 2017.
Manager, banker, lawyer and director are the occupations of the four charged in a mortgage fraud case, according to court documents.
The case involved more than $40 million of loans and accusations of kickbacks to bank employees, the NZ Herald reports.
The charges facing the four include obtaining by deception over information provided to secure more than $40m in mortgages on dozens of properties within the cities of Hamilton and Auckland.
Three were also charged with breaching the Secret Commissions Act.
Those charges allege that payments between $5000 to more than $30,000, were paid by and to bank staff as reward for approving suspect mortgage applications.
Total kickbacks paid allegedly exceeded $500,000, according to the Serious Fraud Office.
The not guilty pleas were made during a short hearing in the Auckland District Court on Friday and the case will continue in court in March 2017.
