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Client Avoids Prison for $3.6 Million Fraud

RELATED TO: Obtaining a Financial Advantage by Deception, Fraud Charges
CRIMINAL CASE

Our client is a 41-year-old former business executive from Sydney who pleaded guilty to a complex $3.6 million fraud scheme.

Between 2008 and 2010, he and his co-offender submitted a large number of applications for finance to various companies on behalf of applicants. He presented himself to clients as being experienced in obtaining finance for businesses with poor credit situations.

Our client created false sales invoices, submitting them to credit providers along with completed applications signed by his clients.

Finance companies were thereby defrauded into providing credit for the purchase of non-existent office equipment using false sales invoices.

Our client and his co-offender retained commissions for the value of the loans, with the remainder being paid out to their clients.

Whilst a substantial portion of the loans were repaid in full, many clients defaulted on their loans, meaning that the credit providers were unable to recoup their losses.

Our client was originally charged with 156 counts of Obtaining Benefit by Deception, as well as Dealing with Proceeds of Crime (‘money laundering’).

Despite immediately admitting his involvement to police, our defence team was able to persuade the DPP to reduce the charges to just 5 counts of Obtain Benefit by Deception, with the Proceeds of Crime charge also being withdrawn..

Our lawyers left no stone unturned when preparing our client for his sentencing, obtaining reports, amending the agreed ‘facts’, obtaining various subjective materials and doing all that could be done to place him in the best possible light before the court – which was instrumental in differentiating his case from that of his co-offender.

Our Senior Lawyers were then able to persuade the Sentencing Judge in the Downing Centre District Court to impose a ‘suspended sentence’ and ‘community service’ – which means that our client avoids prison and can get on with his life.

His co-offender, who was represented by other lawyers, was sentenced to a minimum term of four years full time imprisonment.

Our client’s result is truly exceptional considering that those involved in such extensive fraud schemes almost invariably receive lengthy full time prison sentences.

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