A woman convicted of almost $3.6 million in mortgage fraud has been sentenced to three years and two months’ imprisonment today.
Vicki Letele was the sole director and shareholder of Focus Property Investment, which was placed into liquidation in 2012.
Letele worked together with Ramni Kumar to obtain mortgage finance by using false documentation for low income families who would not otherwise have been able to obtain finance.
The mortgage finance was used to purchase properties from interests related to the two, generating a profit for them.
Kumar gave evidence at Letele’s trial in the Manukau District Court.
She entered a guilty plea in January 2014 and was sentenced to 12 months home detention and 250 hours of community work.
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