Six people are facing a total of 61 charges relating to alleged mortgage fraud after a recent filing by the Financial Markets Authority at the Manukau District Court.
The FMA's executive director of response and enforcement Louise Unger said this type of alleged mortgage fraud undermines the trust and confidence in New Zealand's lending system and financial institutions.
"Mortgage fraud is one of our key regulatory priorities. The FMA is taking this action to both hold those responsible to account and to deter others from engaging in similar conduct."
Suppression orders were in place, and the FMA said it could not comment further at this stage.
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