Regulatory Alerts2025-07-15
Remedy Housing officials convicted of dishonesty offences
The Australian Securities and Investments Commission (ASIC) reports that Brent Smith, Mahmoud Khodr, and Fue Mano have been convicted of dishonest use of position for promoting fraudulent interest-free mortgages through Remedy Housing. The officials deceived consumers by claiming the scheme was funded by overseas investors and guaranteed home ownership, while actually using customer deposits for personal gain and operations. Sentencing for the convictions is scheduled for 10 March 2026, with maximum penalties including up to 15 years imprisonment and fines of up to $765,000 per offence.
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