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Category: Courts and Trials / Law, Crime and Justice / Banking

Man accused of using fake names in attempt to defraud NAB

Wednesday, 6 Apr 2016 13:08:13

It is alleged Frank John Fischetti used false documents to try to get a loan. (ABC News: Nic MacBean)

A Canberra man accused of using fraudulent documents in an attempt to borrow more than $1 million to buy a house has gone on trial in the ACT Supreme Court.

Frank John Fischetti, 54, allegedly tried to get the loan from the National Australia Bank to buy a house in Nicholls in Canberra's north.

Prosecutor Margaret Jones told the jury Fischetti was a bankrupt and was on Centrelink benefits.

Court documents said he allegedly used different names and false documents to try to obtain the loan.

"Documents used to furnish the loan applications were fraudulently constructed with the knowledge of the defendant utilising third parties as conduits," a police statement said.

Ms Jones said in a separate incident Fischetti obtained $195,000 from a Canberra businessman by enticing him into fabricated property deals in New South Wales and Queensland.

The prosecution said Fischetti promised the man returns of 50 to 100 per cent in just 60 days for property deals but the money was never repaid.

The court heard Fischetti had befriended the man and gave him the impression he was a successful businessman.

According to a police statement, Fischetti told the man he was planning to buy Daydream Island in Queensland's Whitsunday Islands for $35 million and invited him to contribute to the $500,000 he was short to secure the investment.

But he said proposed deal did not go ahead.

Fischetti was arrested at his home in August 2014.

The offences were alleged to have taken place between November 2013 and June 2014.

AustraliaPlus


 

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