THE Australian Securities and Investments Commission has permanently banned a former Perth-based mortgage broker after she defrauded investors of more than $4 million.
In June this year Catherine Anne Thompson of Mortgage Miracles Pty Limited was convicted of stealing and sentenced to five years and one month in jail. She must serve three years and one month in jail before she’ll be eligible for parole and must also pay compensation to her victims.
ASIC said between 2007 and 2008, she convinced her clients, including friends and members of her church, to part with hundreds of thousands of dollars for an investment scheme.
Thompson was a mortgage/finance broker from 2000 to 2008. In 2004 she set up Mortgage Miracles and was its director.
“This banning means that Ms Thompson cannot re-enter the credit and finance industry,” ASIC deputy chairman Peter Kell said.
Property Review
