Former mortgage adviser pleads guilty to dishonesty offences
A former, Napier-based mortgage adviser has pleaded guilty to dishonesty offences and is due to appear in court on other charges.
Thursday, November 2nd 2023, 10:03AM 
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The Financial Markets Authority (FMA) charged Natalie Ann Carter with multiple dishonesty offences following an investigation into her conduct.
She was charged with making a false document, obtaining by deception, using forged documents, obstructing the exercise of the FMA’s powers and making false or misleading statements.
She pleaded guilty to eight of the 15 charges filed against her in the Napier District Court yesterday.
It is alleged that between 2018 and 2020, 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 $2.91million in value. At least three of the seven home loan applications were successful to the total value of $1,087,700.
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, Carter is alleged to have misled, deceived or attempted to deceive the FMA about the extent of the alleged offending.
In April 2021, 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.
The FMA alleges that during the application process, 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. It is alleged that she failed to declare that she was being investigated for dishonesty and misrepresented the nature of the FMA’s investigation.
The lead charge under the Crimes Act carries a maximum penalty of 10 years’ imprisonment. The false or misleading statements charge under the FMC Act carries a maximum penalty of five years’ imprisonment a $200,000 fine, or both. The obstruction charge under the FMA Act carries a maximum penalty of a $300,000 fine.
In relation to the seven charges Carter pleaded not guilty to, she has elected a Judge alone trial. She will next appear on December 14. This will be an administrative hearing.
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However, all the new legislation and bureaucracy will not stop this kind of behavior. Sledgehammer to crack a nut, when the real problem is not a nut.