Background
Between 2018 and 2020, Ms Carter created various false documents for the purpose of obtaining home loans for herself and two clients. The documents were fake pay slips, contracts and employment verification forms from fictitious employers. In total, seven home loans were applied for, totalling $2.91m in value. At least three of the seven home loan applications were successful to the total value of $1,087,700.
Ms Carter’s engagement at the Hawke’s Bay-based brokerage was terminated in January 2020. The FMA was subsequently notified of several concerns, prompting an investigation. During the investigation, Ms Carter misled, deceived, or attempted to deceive the FMA about the extent of the alleged offending.
In April 2021, Ms Carter applied to join another brokerage, with the intention of working under the firm’s Financial Advice Provider (FAP) licence as an Authorised Body, through a company that she owned. During the application process, Ms Carter made false or misleading statements on two FMA documents, which must be provided to the FMA where an Authorised Body joins an FAP licence holder. She also failed to declare she was being investigated for dishonesty and misrepresented the nature of the FMA's investigation.
Ms Carter was convicted on all charges she pleaded guilty to and was sentenced to 12 months detention.
