Shiwei (Darren) He was sentenced and released on April 12 without proceeding to conviction after entering into a $5,000 recognisance to be of good behaviour for two years. He is a director of N V I Lending Pty Ltd, trading as General Mortgage.
In February 2019, He stated in a credit license annual compliance certificate lodged with ASIC that none of the fit and proper people under his Australian credit license, including himself, had their accreditation suspended or cancelled by a lender or their membership with an aggregator terminated.
He knew this statement was false as his accreditation with the Commonwealth Bank, ANZ, NAB and Westpac had been suspended or cancelled between 2016 and 2018. He also knew his introducer agreement with the Beagle Finance aggregator service, trading as Loankit, had been terminated in 2018.
He pleaded guilty to the offence on February 07.
Magistrate Barko considered multiple factors when handing down his sentence including He’s guilty plea and prospect for rehabilitation.
The Commonwealth Director of Public Prosecutions prosecuted the matter after a referral from ASIC.
Australian credit licence holders are required to annually lodge an Australian credit licence compliance certificate with ASIC, in accordance with their credit licence obligations.