Hells Angels boss Felix Lyle pleads guilty

HELLS Angels boss Felix Lyle has admitted to attempting to defraud "vulnerable people" of more than $2 million.

HELLS Angels boss Felix Lyle has admitted to attempting to defraud "vulnerable people" of more than $2 million.

Lyle, 55, pleaded guilty to two charges of dishonestly obtaining financial advantage by deception and one charge of knowingly dealing with the proceeds of crime.

One of his victims was a woman who has since passed away from cancer.

Lyle carried out the fraud attempts by convincing people to become directors of shelf companies which they then used to create false documents for loan applications.

The applications were used to buy excavators and a commercial property in Alexandria worth more than $1 million.

The victims were not aware of those loan applications, the court heard.

Lyle will face sentencing in the Downing Centre Local Court next month.