SFO lays charges in $9.2m mortgage fraud case
Auckland businesswoman Eli Devoy has been charged as the ringleader of an alleged complex mortgage fraud.
Auckland businesswoman Eli Devoy has been charged as the ringleader of an alleged complex mortgage fraud.
The Serious Fraud Office today laid 48 Crimes Act charges against Mrs Devoy (44) and six other individuals.
The SFO alleges Mrs Devoy, aka Ellie Stone, conducted a series of property sales and purchases between July 2007 and December 2010, which deceived various banks into approving mortgage applications.
The applications were based on false documents or information supplied to the banks.
The six other defendants are related to, or associated with, Mrs Devoy, and are alleged to have participated in her scheme, the SFO says.
The total value of the alleged fraud under prosecution by SFO amounts to approximately $9.2 million.
Those charged include:
- Eli Devoy – Female, born December 11, 1968, aka Ellie Stone (26 charges)
- Mehrdad Ghorbani – Male, born March 3, 1967, aka Mohammad Ghorbani Sarsangi (6 charges)
- Mehran Ghorbani – Male, born April 19, 1978, aka Massoud Ghorbani and Ken Williams (3 charges)
- Nasrin Kardani – Female, born June 17, 1979, (3 charges)
- Mehrzad Ghorbani – Male, born January 27, 1972, aka Mehdi Ghorbani (5 charges)
- Hassan Salarpour – Male, born June 25, 1977, (3 charges)
- Javad Toraby – Male, born May 1, 1971, (2 charges)
The seven appeared in the Auckland District Court today.
Acting SFO chief executive Simon McArley says, “Financial crime in lending markets increases the cost of credit to all borrowers and has a direct impact on economic growth.
"The SFO is keen to work with lenders to reduce offending in this area and augment the deterrent effects of SFO’s prosecution functions with improved lending practices and procedures.”
The complaint about Mrs Devoy and her associates was originally received in November 2011 and a Part II investigation began in December 2011.
Duncan Bridgeman
Fri, 24 May 2013
Fri, 24 May 2013
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SFO lays charges in $9.2m mortgage fraud case
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