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A former Westpac mortgage manager has been jailed for 18 months for his part in a $5.3 million mortgage scam.
Amar Singh pleaded guilty to fraud charges involving false loan applications which he processed through the bank. He was ordered to pay $13,000 reparation to victims.
Former Newmarket real estate agent Ranjeet Prasad also admitted charges in the same scam.
He has been sentenced to eight months home detention, 400 hours community work and ordered to pay $80,000 reparation to victims.
The scam, investigated by the Serious Fraud Office, saw loan application forms used to defraud lenders, who unknowingly advanced 100 per cent finance for the purchase of properties across South Auckland in 2005.
Westpac and other banks lost more than $760,000. Three others face trial over the same scam next year.
