Ex NAB manager spared jail over loan fraud

A NAB branch manager has been spared jail over a scam in which his uncle collected $56,995 in mortgage commissions related to the bank’s so-called introducer program.

The Australian Securities and Investments Commission says former western Sydney branch manager Mathew Alwan, who admitted to falsely telling NAB his uncle had referred potential home loan customers, was sentenced to 12 months in prison but will be allowed to serve it through a good behaviour bond that includes 200 hours of community service.

Mr Alwan made false and misleading statements in relation to 24 home loan applications with NAB, which is subject to civil proceedings from ASIC in relation to its since-halted introducer program.

AAP

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