Regulatory Alerts2026-03-11
Remedy Housing Officers Sentenced for Dishonesty Offences
ASIC announced that Remedy Housing officials Brent Smith, Mahmoud Khodr, and Fue Mano were sentenced by the County Court of Victoria for promoting a fraudulent interest-free mortgage scheme. The court imposed prison terms ranging from 30 months to six years after finding the defendants misappropriated over $770,000 from approximately 107 customers between 2019 and 2021. The scheme involved false representations about financing and mortgage guarantees, with the court ordering reparation payments to victims and noting the sophisticated nature of the fraud targeting vulnerable communities.
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