A house mortgage dealer who supplied faux pay slips to banks to assist Vietnamese migrants purchase houses says he was serving to individuals to safe loans and his crimes had not induced any injury.

Lam Duc Vu — who was a magistrate for greater than 30 years — has been spared jail for giving Westpac, Bendigo and Adelaide banks pay slips that have been faux or had been altered with increased charges of pay to safe residence loans value lots of of 1000’s of {dollars}.

The 73-year-old pleaded responsible within the District Court docket earlier this yr to 11 counts of dishonestly coping with paperwork between 2015 and 2017.

Throughout sentencing, Choose Paul Muscat stated whereas Vu didn’t create the faux paperwork, he handed them to the financial institution on behalf of his shoppers realizing they have been faux.

“Whereas the loans have been serviced up to now by every of the debtors that will not at all times be the case into the longer term particularly with rates of interest on the rise,” he stated.

“Nonetheless, all the loans are secured over the properties which might have appreciated through the years such that the banks would have the ability to get better their debt.”

Choose Muscat stated it was additionally a priority that Vu had misplaced his job as a mortgage dealer with the Australian Monetary Group earlier after Westpac raised issues about faux documentation.

Vu then went on to begin his personal enterprise – Ultimate Residence Loans and Monetary Companies – the place the offending occurred.

Vu, who got here to Australia as a refugee additionally helped arrange a charity – the Vietnamese Welfare Service – which assisted individuals within the Vietnamese group full tax returns and apply for financial institution loans.

Choose Muscat stated Vu was paid between $500 and $2,000 in money for his providers, with the transaction usually occurring within the financial institution automotive parks.

“You will have let down many individuals within the Vietnamese group who trusted you to use for loans on their behalf and to take action lawfully,” Choose Muscat stated.

“In performing the best way that you simply did you could have introduced nice disgrace upon your self.

‘I simply assist the individuals’

Choose Muscat stated he was happy Vu had learnt a tough lesson, was remorseful and wouldn’t offend once more.

He sentenced Vu to 4 years and 9 months jail however discovered there was good cause to droop that sentence given his age and his lack of prison historical past.

Vu has agreed to an 18-month good behaviour bond.

Outdoors court docket, Vu stated he was serving to individuals and his crime had not induced any injury.

“I attempted to assist all people… as a result of 40 years in the past I come to Australia – the boat individuals – after I come right here, I wish to attempt to assist all people as a result of Australia individuals already assist me,” he stated.

“The rationale I do not go to jail is as a result of I made a mistake with the financial institution and I simply assist the individuals.

“No injury for the financial institution, no injury for the shopper, no injury for the witness, there’s nothing I simply assist.

“No cash in my pocket.”