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.

Mr Terry Yun of Clayton South, VIC

The MFAA Tribunal has suspended Mr Terry Yun from MFAA membership for a period of 12 Months. The Tribunal determined that Mr Yun engaged in acts of a dishonest nature by manufacturing payslips and altering applicants’ bank statements which were then submitted to lenders.

The suspension is effective from 30/10/2019 to 29/10/2020.

 

Mr Daniel Edmonds of Brisbane QLD

The MFAA Tribunal has suspended Mr Daniel Edmonds from MFAA membership for a period of 12 months as from 15 October 2019. The Tribunal found that Mr Edmonds had breached the MFAA Disciplinary Rules on three occasions in stating on loan documentation that he had met face to face with a guarantor when that was not the case. Due to Mr Edmond’s remedial action and clear contrition, the Tribunal ordered a lesser sanction than might otherwise have been the case.

The suspension is effective from 15/10/2019 to 14/10/2020.

 

Mr Ji (Beecham) Hu of Denistone East, NSW

The MFAA Tribunal has suspended Mr Ji (Beecham) Hu from MFAA membership as the Tribunal determined that Mr Hu engaged in misconduct by either he or his staff fraudulently altering an MFAA Certificate of Membership and then providing that altered certificate directly to lenders. 

The suspension is effective for a period of 24 months from 30 September 2019 to 29 September 2021.

 

Mr Richard Gardner of Mooloolah, QLD

The MFAA Tribunal has suspended Mr Richard Gardner from MFAA membership for a period of 12 months. Mr Gardner had been restrained by a Court from providing financial services as he had provided such services without a licence. The MFAA Tribunal is of the view that misconduct in relation to a financial services licence is relevant to MFAA membership. 

The suspension is effective from 3 June 2019 until 2 June 2020.

 

Ms Nee (Rachael) Tanner of Green Valley, NSW
 
The MFAA Tribunal has found that Ms Rachael Tanner failed to act with appropriate skill, care and diligence in submitting loan applications containing false employment and income supporting documentation. As a result the Tribunal has suspended the Member for a period of 12 months.

The suspension is effective from 20/05/2019 to 19/05/2020. 

 

Mr Anush Kumar Kalyana Sundaram of Riverstone, NSW

The MFAA Tribunal has suspended Mr Anush Kumar Kalyana Sundaram from MFAA membership for a period of 12 months. The Tribunal found that the Member had failed to act with appropriate skill, care and diligence in submitting loan applications to lenders, without disclosing all liabilities of the applicants on multiple occasions.

The suspension is effective from 08/04/2019 to 07/4/2020.

 

Mr Adrian Chenh of Moonee Ponds, VIC

The MFAA Tribunal has suspended Mr Adrian Chenh after it found that the Member had engaged in Misconduct. The member failed to disclose that he had been banned by ASIC from providing financial services for a period of five years, in his Personal Declaration of his MFAA Membership renewal application. The Tribunal had initially suspended the Member on an interim basis pending a possible AAT appeal. That appeal did not proceed. Consequently, the MFAA Tribunal has now made a final determination and suspended the Member for a period of 18 months.

The suspension is effective from 04/04/2019 to 03/10/2020.

 

Mr Billal Elhelou aka Bill El-Helou of Heidelberg, VIC

The MFAA Tribunal has suspended Mr Billal Elhelou from MFAA membership for a period of 18 months. The Member has been banned by ASIC from holding a financial services licence and the Member did not inform the MFAA about the ASIC investigation when renewing MFAA membership. The Tribunal initially suspended the Member on 2 October 2018 pending a possible AAT appeal. That appeal has now been discontinued and the MFAA Tribunal has moved to finalise this matter.

The suspension is effective from 03/04/2019 to 02/10/2020.

 

Ms Sara Daizli of Prestons, NSW

The MFAA Tribunal has determined that Ms Sara Daizli has been guilty of misconduct in breach of the MFAA Disciplinary Rules. The Tribunal found that Ms Daizli engaged in an act of a dishonest nature by submitting manufactured payslips for three (3) separate applicants; those payslips are near identical in format and content and the purported issuing organisations of each of these payslips have confirmed them to be false. The Tribunal also found that the Member lacked due care and diligence in relation to employment and related records submitted to lenders.

The Tribunal suspended the Member from MFAA membership for a period of 12 months from 1/3/2019 to 29/2/2020.

 

Mr Giles Priyantha Silva of Endeavour Hills, VIC

The MFAA Tribunal has suspended the membership of Mr Giles Silva. The Tribunal found that Mr Silva had engaged in misconduct and had failed to act with appropriate skill, care and diligence in submitting loan applications containing false income supporting documentation and another application not disclosing critical information.

The Tribunal suspended the Member from MFAA membership for a period of 12 months from 15/2/2019 to 14/2/2020.

 

Ms Jenny Shi of Sydney, NSW 

The MFAA Tribunal has suspended the membership of Ms Jenny Shi of Sydney NSW from MFAA membership for a period of two years. The Tribunal found that Ms Shi had engaged in misconduct pursuant to the MFAA Disciplinary Rules in relation to the falsification of pay slips on a number of occasions.

The suspension is effective from 08/07/2018 to 07/07/2020.

 

Mr Mark Roberts of Breakaway Finance Group of West Burleigh, QLD

The MFAA Tribunal has suspended Mr Mark Roberts from MFAA membership for a period of two years. This follows on from ASIC accepting an Enforceable Undertaking from Mr Roberts which included removing him from the Australian Financial Services industry for a period of two (2) years. Mr Roberts fully co-operated with the Tribunal but it has been the view of the Tribunal that if an MFAA member is found by ASIC to have engaged in unethical conduct then the MFAA must take appropriate action.

The suspension is effective from 12/04/2018 until 11/04/2020 unless Mr Roberts' financial services licence is reinstated by ASIC prior to this date.

 

​Ms Jiangyong (Jenny) Mao, Diamond Lady Financial Solutions of Sunnybank, QLD

The MFAA Tribunal has suspended the MFAA membership of Ms Jenny Mao of South Brisbane, operator of loan broking company, Diamond Lady Financial Solutions. The suspension is dependent on the outcome of an appeal by Ms Mao against a permanent ban by ASIC and charges laid against Ms Mao by ASIC.

The suspension is effective from 15/08/2016.

NB: The MFAA membership of Ms Jiangyong (Jenny) Mao, Diamond Lady Financial Solutions of Sunnybank, QLD has been cancelled effective 28/07/2017.

 

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.​

 

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 Aizaz Hassan of Truganina, Vic

The MFAA Tribunal has issued a Notice of Suspension that Mr Aizaz Hassan may have committed or been directly or indirectly involved in the commission of an act of fraud or dishonesty and that Mr Hassan be suspended from MFAA membership pending further order by the Tribunal. Mr Hassan may request further investigation by the Tribunal into the Allegations against him.

The suspension is effective from 16/02/2015.

NB: Mr Aizaz Hassan has been expelled from the MFAA effective as of 15/06/2015.

 

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 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.

 

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.

 

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 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.​

 

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.​

 

Athol Halverson and Australian Finance Club Pty Ltd of Sydney, NSW

The MFAA Tribunal has suspended Australian Finance Club Pty Ltd of Sydney, NSW from MFAA Membership from 2nd November 2012.

The Deputy-Chair of the MFAA Tribunal has issued an order suspending Australian Finance Club Pty Ltd from MFAA membership on the basis that the Member appears to have been directly or indirectly involved in the commission of an act of fraud or dishonesty through its principal manager, Mr Athol Halvorsen.​

The suspension is pursuant to the “fast track” suspension process set out in the MFAA Disciplinary Rules and the Member can ask for further investigation and consideration of the allegations. Consequently, the suspension stands pending such further investigations, if any.

 

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.

 

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 Moustafa Dandachli of Sydney, NSW

The MFAA Tribunal has suspended Mr Moustafa Dandachli of Sydney NSW from MFAA membership from 6th July 2012.

The Chair of the MFAA Tribunal has issued an Order suspending Mr Moustafa Dandachli from MFAA membership on the basis that the Member has committed, or has been directly or indirectly involved in, an act or acts involving dishonesty.

The suspension is pursuant to the “fast track” suspension processes set out in the MFAA Disciplinary Rules and the Member can ask for further investigation and consideration of the allegations. Consequently the suspension stands pending such further investigations, if any.​

NB: Mr Moustafa Dandachli has been expelled from the MFAA effective as of August 27, 2012

 

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.

The suspension is effective from 1 July 2012.

 

Mr Edward George, of Mudgee, NSW

Mr Edward George, of Quest Home Loans, engaged in fraudulent and dishonest conduct by altering and issuing three approval letters to Deposit Power on behalf of himself and two clients. The Tribunal regarded the allegations as very serious and determined that the Member be suspended from the Mortgage and Finance Association of Australia for two years with effect from 29 August 2011.