Bendigo busts elaborate car loans scam
Bendigo Bank has alerted authorities in Victoria to an elaborate scam involving $12 million worth of supposedly fake car loans.
The bank has referred the Australian Motor Finance Corporate (AMFC) of Port Melbourne to the Victoria police crime desk and the Australian Securities Exchange Commission after becoming suspicious that the company was hawking fake car loans.
According to the Age, the three directors of AMFC have been barred from handling the company’s assets while an investigation is carried out.
“I expressly deny any wrongdoing because of a number of factors which I won’t try to elaborate,” reads the court affidavit of Denis Angeleri, one of the directors.
The paper tried to contact Mr Angeleri and his partners but all were unavailable or unwilling to comment on the allegations made against them.
The company website has also been taken down.
AMFC was formerly known as Bushveld Platinum and was involved in the mining industry before making a quick entrance into the car loans market.