News
Previous News Items
- Non-bank lenders fight back; AFM cuts rate, AFG launches securitisation business
- Prevent price collusion? Ludicrous: NAB
- Treasurer misses the real issue: Ormond
- Mortgage Choice set to stir up mortgage market competition
- Non-bank sector will perish without capital source: MFAA
- Big Four dominate
- No rule against marauding Big Four on rates
- Auction clearance rates down
- Big Four claims manipulated, AFG’s 3-point competition plan
- Broker's prison sentence appeal dismissed
- Greedy Big Four gorge, Mutuals feel exit fee pinch
- ING DIRECT, AFM up the ante
- Bouris head on block, Greens fed up, Mortgage Choice calm under pressure
- Guidelines a welcome break for brokers
- ANZ the strategic winner
- ASIC firm on fees; ANZ cuts fee, raises rates
- Mortgage brokers essential, MFAA
- ING DIRECT sizes up competition
- Exit fees to go?
- Non-banks cleared for takeoff: LoanKit
Broker's prison sentence appeal dismissed
By Tim Neary
November 18, 2010
By Tim Neary
November 18, 2010
Michael Cay, who is serving four years imprisonment following his conviction in December 2008, has had his appeal against the sentence dismissed.
Cay has to serve a minimum of three years before he is eligible for parole - a sentence the broker was seeking to overturn on the basis of it being "manifestly excessive", according to a report in The Adviser.
Cay who previously worked for Jewel Financial Services, was found guilty of obtaining property by deception and obtaining a financial advantage by deception.
According to court documents, Cay pleaded guilty in 2008 to deceiving several investors of $475,149 to invest with Jewel.
 |
 |
| Phone (02) 9939 8771 |
