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'via Blog this'Jarvis used a number of methods to obtain the mortgages including exaggerating income, creating fake letters of employment and fraudulently using other companies' logos on documents.
THU, 12 APR 2012 11:12A.M.
Altering documents to allow people to borrow money for properties they could not afford has led to a former sales rep for failed finance company Blue Chip being sentenced to seven months' home detention.
Former Blue Chip Southland sales person Rachel Anna Jarvis was also sentenced to 200 hours' community work and ordered to pay $50,000 reparation in Invercargill District Court last week.
Jarvis, 34, had admitted mortgage fraud to secure loans worth $1,469,000 for property investments.
She pleaded guilty to forgery and four counts of using a forged document for personal benefit after charges were laid by the Serious Fraud Office.
Judge Kevin Phillips said during sentencing on April 5 that the charges were not related to the collapse of Blue Chip.
Jarvis, who also worked as a mortgage broker for Town and Country Finance, changed information supplied by loan applicants wanting to invest in Blue Chip properties to ensure the loans were approved.
The SFO said the fraud left investors with properties that they would otherwise have been unable to afford.
Jarvis used a number of methods to obtain the mortgages including exaggerating income, creating fake letters of employment and fraudulently using other companies' logos on documents.
The SFO said investors were kept in the dark about the fake claims and it investigated after 23 complaints to police.
NZN
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