The ringleader of an Auckland mortgage fraud scheme has been jailed for five years.
Eli Devoy - also known as Ellie Stone, Eli Ghorbani and Elaheh Ghorbani Sar Sangi - was found guilty of 20 charges following a 10-week trial in the Auckland District Court earlier this year.
The 47-year-old and her associates netted $9.2 million between 2007 and 2010. Devoy was involved in 11 property deals where the lenders approved mortgage applications based on false information and supporting documents.
Judge Brooke Gibson said Devoy showed a complete absence of remorse.
At the time she was found guilty, the Serious Fraud Office said her fraud made it more difficult for genuine buyers.
"The cost of borrowing is increased by this sort of fraudulent conduct," said director Julie Read.
"We will continue to work with banks who are targeted with false information. Every lender should be monitoring this risk and people applying for mortgages should be aware that there are significant penalties for those who do not provide truthful information."
Her associates were also sentenced on Wednesday.
Mehrdad Ghorbani, found guilty of six charges, was jailed for three years.
Mehrzad Ghorbani, found guilty of four charges, was sentenced to 10 months' home detention. Mehran Ghorbani, who pleaded guilty to three charges before the trial, got seven months' home detention.
Nasrin Kardani, found guilty of three charges, will be sentenced next month.
Two others - Hassan Salarpour and Javad Toraby - were found not guilty.
Newshub.
