This article is from the Australian Property Journal archive
A MELBOURNE mortgage broker has appeared in the Melbourne Magistrates Court following an investigation by the Australian Securities and Investments Commission.
Hazel Bucello of Templestowe, charged with 10 counts of deception and one count of obtaining a financial advantage by deception, after ASIC received a number of complaints from investors who had invested money with her mortgage broking business, Victorian Finance Broking Services Pty Ltd (VFBS), based in Kew, Victoria.
ASIC alleges Bucello obtained over $2.2 million from a number of investors by falsely representing that the money would be on-lent to clients of VFBS and used to provide bridging finance.
The loaned money was also allegedly secured against property owned by the clients.
Bucello was unconditionally bailed. The matter will return to the Melbourne Magistrates Court on May 13.
Australian Property Journal
