Kerr boyfriend jailed over investor fraud

Posted by lena on Jun 11, 2009 in News | 0 comments

Adrian Camilleri, disgraced former mortgage broker and ex-boyfriend of supermodel Miranda Kerr, has been sentenced to a maximum of 21 months in jail for misappropriating an investor’s money.
The NSW District Court on Wednesday sentenced the 34-year-old from Edgecliff, in Sydney, to jail with a non-parole period of nine months, the Australian Securities and Investments Commission (ASIC) said.
Camilleri was last week found guilty of one count of fraud relating to his mortgage broking business Asset Finance Service.
ASIC investigated Camilleri’s conduct between December 2005 and September 2006, a period he was the sole director of Asset Finance.
According to ASIC, Asset Finance was a mortgage broking business that sourced lending capital from private investors.
In December 2005, the company received $123,441 from an investor, with the funds to be used for either investment in short-term secured loans or to be returned.
However, ASIC said, the funds were not invested and Camilleri fraudulently omitted to account for them.
The principal investment has not been repaid, ASIC said.
source: brisbanetimes.com.au