A 73-year-old South Australian man supplied false payslips to banks to assist Vietnamese migrants buy properties they may not have purchased in any other case, a courtroom has heard.
Lam Duc Vu, who got here to Australia as a refugee after the communist military took over Saigon and later grew to become a justice of peace, pleaded responsible within the District Courtroom to at the very least 10 counts of dishonest dealings with paperwork between 2016 and 2017.
Throughout sentencing submissions on Monday, it was additionally heard that Vu helped set up a charity, known as Vietnamese Welfare Service, to help Vietnamese individuals in finishing tax returns and making use of for financial institution loans, amongst different providers, ABC reported.
“He is aware of that he has let down lots of people and he is aware of that these, particularly, within the Vietnamese neighborhood who trusted him to use for the loans and observe the regulation, have been let down by his actions,” Vu’s lawyer, Patrick Dawes instructed the courtroom.
Dawes additionally argued that “not one of the banks on this matter have suffered any loss as a result of the loans… have all been repaid by the candidates.”
“Not that it justifies my consumer’s wrongdoing, however in lots of circumstances the candidates to the loans have truly had a property that they’ve lived in and made repayments on that they in any other case wouldn’t have had and have now acquired the advantage of capital acquire and the enjoyment of these properties due to the mortgage,” he instructed the courtroom.
Dawes mentioned Vu gained “little or no profit” from the misconduct and was now remorseful and had “discovered a tough lesson.”
And though Vu knowingly gave the financial institution false payslips, he didn’t create the paperwork nor did any of the mortgage candidates, Vu’s lawyer instructed the courtroom.
AFG terminated its settlement with Vu’s firm, Very best House Loans, following issues concerning the legitimacy of the paperwork supplied, the courtroom heard.
Decide Paul Muscat was requested by Dawes to search out “good motive” to droop a jail sentence – a request the prosecutor didn’t oppose given Vu had no legal historical past and was unlikely to reoffend.
Vu will probably be sentenced on Friday, ABC reported.