Please note that the MFAA conducts regular reviews and may remove information from this site after seven years from publication other than in matters involving very serious misconduct.

Ms Helen Lossev of Mornington, Vic

The MFAA Tribunal has suspended the membership of Ms Helen Lossev for a period of 4 years. The Tribunal found that Ms Lossev, ​had engaged in acts of a fraudulent and dishonest nature by altering a valuation document and then denying on two separate occasions when questioned that she had altered that document. Due to extenuating circumstances, the Tribunal decided that a suspension, rather than expulsion from the MFAA, was an appropriate sanction.​​

The suspension is effective from 2/3/2015 to 1/3/2019​

 

Ms Lifeng (Grace) Zhang, Loan Designers of Melbourne, VIC

The MFAA Tribunal has suspended the membership of Ms Lifeng (Grace) Zhang of Loan Designers until September 2017 flowing from the Member making false statements on her MFAA membership application and renewal application forms.

The suspension is effective from 01/01/2016 to 01/09/2017.

 

Ms Nicole Dean of Stepney, SA

The MFAA Tribunal has suspended Ms Nicole Dean  from MFAA membership for a period of two years. The Tribunal has determined that the Member has engaged in an act of a dishonest nature by instructing her assistant to alter and submit a letter to a lender purporting to be advice from a borrower’s employer regarding his receipt of regular overtime payments.

The suspension is effective from 11/05/2015 to 10/05/2017.​

 

Mr Edward George of Mudgee NSW​

The MFAA Tribunal has suspended Mr Edward George from MFAA membership until July 2016. This flows from an ASIC decision to initially permanently ban Mr George from engaging in finance and credit activities. Mr George appealed the ASIC decision to the Administrative Appeals Tribunal. The AAT substituted the ASIC decision from a permanent ban to a 3 year ban. The Tribunal has therefore suspended Mr George from the MFAA for a period of three years effective from 31/07/2013 to 30/07/2016.

 

Mr Alec Khoo of Alec Khoo & Associates of SA​

The MFAA Tribunal has determined that Mr Alec Khoo of Alec Khoo & Associates of SA does currently not meet the criteria of a Fit and Proper person of the MFAA, following the decision by ASIC to ban him from providing financial services for three years after failing to comply with financial services laws. 

The Tribunal has suspended Mr Khoo from the MFAA for a period of three years from 24/04/2013 to 23/04/2016.

 

Ms Renate Uzubalis of North Willoughby, NSW  

The MFAA Tribunal has suspended Ms Renate Uzubalis for a period of two years after the Tribunal found the Member guilty of three breaches of the MFAA Disciplinary Rules. The Tribunal found that the Member had engaged in conduct that was dishonest and that she failed to exercise appropriate skill, care and due diligence.  The suspension was subsequently reduced to 1 year with conditions.

The suspension is effective from 30/03/2015​ to 15/03/2016.

 

Mr Konstantinos Mantzis of KM Finance Pty Ltd, Vic​

The The MFAA Tribunal has suspended Mr Konstantinos Mantzis of KM Finance Pty Ltd of Victoria for a period of 18 months. The Tribunal found that the Member has failed to act with appropriate skill, care and diligence in relation to his loan applications processes. 

The suspension is effective from 14/04/2014 to 13/10/2015.

 

Ms Man (Mandy) Zhu of Mount Waverley, Vic​

The MFAA Tribunal has suspended the membership of Ms Man (Mandy) Zhu for a p​eriod of 12 months. The Tribunal found that Ms Zhu engaged in an act of a dishonest nature by informing a representative of her aggregator that she had sighted original bank statements submitted with a finance application to evidence income, knowing she had only in fact sourced a copy from the borrower; those statements have since been identified as being fraudulent.

In addition the Tribunal also found that Ms Zhu has failed to exercise due skill and care in submitting information to lenders without verifying the information that was subsequently shown to be false or of questionable authenticity. 

The suspension is effective from 11/08/2014 to 10/08/2015.​

 

Mr Anh (Alex) Ngoc Nguyen of Compact Financial Solutions Pty Ltd of St Albans, Vic​

The MFAA Tribunal has suspended Mr Anh (Alex) Ngoc Nguyen of Compact Financial Solutions Pty Ltd for a period of 12 months from 9 March 2013.

The Tribunal determined that Mr Nguyen was not a "Fit and Proper" person to hold membership of the MFAA as he has been subject of disciplinary action by the Director of Consumer Affairs Victoria, in that Mr Nguyen's Provisional Conveyancer's Licence was suspended on 25 November 2011. 

That action was not disclosed to the MFAA by the member when he renewed his membership.

This conduct was contrary to the MFAA Code of Practice.​

 

Mr Mu Xiao of Adelaide, SA​

The Tribunal has suspended Mr Mu Xiao (South Australia) from MFAA membership for a period of 12 months effective from c.o.b. 17 August 2012.

The Tribunal determined that the Member failed to act with appropriate skill, care and diligence by submitting a home loan application which contained false income and employment supporting documentation.

This conduct was contrary to Clause 8 of the MFAA Code of Practice (at the relevant time) and as such constitutes Misconduct and is in breach of  the MFAA Code of Practice.

 

Mr Byron Tan of Byron Tan & Associates Pty Ltd of Brunswick, Vic

The MFAA Tribunal has determined that Mr Byron Tan of Byron Tan & Associates Pty Ltd failed to act with appropriate skill, care and diligence by not disclosing a mortgage of $1,400,000 as a liability on his own loan application which he submitted to a Lender. This omission would have been crucial to the correct assessment of his application. This conduct was contrary to clause 4.7(a) of the MFAA Code of Practice .

The Tribunal has suspended Mr Tan from MFAA membership until 1 August 2013.​

 

Mrs Pauline Thompson of Inglewood, WA

The MFAA Tribunal has suspended Mrs Pauline Thompson from MFAA membership for a period of 1 year.​

The Tribunal determined that Ms Thompson had engaged in an act of a dishonest nature by forwarding an email to a lender which she had purportedly received from her former aggregator, detailing that she had left the aggregator under no adverse circumstances; the aggregator has  stated that it did not author the email, it has been manufactured.​

This conduct was contrary to the MFAA Code of Practice and as such constitutes Misconduct.

 

Mr Murray Davies of All Areas Financial Services of Beaumaris, Vic

Mr Murray Davies failed to exercise appropriate skill, care and diligence in relation to three loans which he submitted to Suncorp which included documents which were subsequently shown to have been fraudulent. The Tribunal regarded the allegations as serious. However, due to the Member's extenuating personal circumstances, the Tribunal decided to reduce the sanction to a six month membership suspension, to come into effect from Monday, 10 December 2012.​

 

Mr Meng Zhang of Doncaster East, Vic​

The Tribunal has suspended Mr Meng Zhang of Doncaster East, Vic from MFAA membership for a period of 6 months effective from COB 21 August 2012.

The MFAA Tribunal has suspended  Mr Meng Zhang from MFAA membership for a period of 6 months.  The Tribunal determined that the member. engaged in Misconduct in that he failed to act with appropriate skill, care and diligence by submitting a mortgage application to a lender which included a bank statement evidencing salary payments received by the borrower, of which the member only sourced a copy; that statement has since been identified as being fraudulent.