Mortgage Broker uses imaginary investment scheme to defraud victims

Catherine Thompson, a former West Australian mortgage broker, used the premise of a fake Mormon retirement village to defraud investors. Among the victims are friends and members of her Mormon Church.

Thompson promised substantial returns on the investment properties but instead the investment funds went to her own property portfolio. Some of the victims were left with large mortgages they now cannot afford to repay.

Catherine Thompson was sentenced to five years and one month in jail.

 

http://www.ldsliving.com/Mortgage-broker-stole-4m-in-Mormon-project-scam/s/72374
http://www.abc.net.au/news/2013-04-30/former-finance-broker-sentenced-to-jail-for-fraud/4661108

NewsButton

Michael Duncan