Big legal play for property heiress accused of massive fraud

Sydney property heiress Ashlyn Nassif returned to court on Wednesday as she is accused of playing a role in an alleged massive bank fraud.

Lawyers for Ashlyn Nassif are seeking to scrutinise a key witness after the property empire heiress was charged over an alleged massive $150m bank fraud.

Ms Nassif, 30, sat quietly in Burwood Local Court on Wednesday afternoon as her legal team made an application to cross examine a witness as part of the drawn-out proceedings.

Ms Nassif, the daughter of fugitive property developer Jean Nassif, is alleged to have falsified documents to meet a $10.5m pre-sale condition for three towers of the Skyview apartment complex at Castle Hill.

Police allege Ms Nassif, a solicitor, submitted fake contracts to Westpac bank over three months in late 2021 to obtain a $150m loan in order to fund about 900 apartments.

The $900m apartment tower complex was built by her father’s development company, Toplace, which has since collapsed.

Ms Nassif, 30, has been charged with dishonestly obtaining a financial advantage by deception and publishing false or misleading material.

Ashlyn Nassif was charged with dishonestly obtaining a financial advantage by deception. Picture: NewsWire/Gaye Gerard.

She is alleged to have falsified documents to meet a $10.5m pre-sale condition for three towers of the Skyview apartment complex at Castle Hill. Picture: Newswire / Gaye Gerard

Ms Nassif’s case has been before the courts since she was charged in February 2023. Picture: Newswire / Gaye Gerard

She was charged in February 2023 and more than a year later her matter remains before the courts after being beset by delays.

Ms Nassif sat in the front row of the public gallery on Wednesday as her solicitor Maryanne Fares made an application to cross examine a witness at the committal proceedings.

The application, under section 82 of the Criminal Proceedings Act, will return to court in August.

Ms Nassif is yet to enter pleas to the charges.

Ashlyn Nassif was charged in February last year. Picture: NewsWire/Gaye Gerard.

Mr Nassif has not been charged, but police have issued a warrant for his arrest in relation to the allegedly fraudulent $150m loan.

The embattled property developer is a fugitive and believed to be living in Lebanon.

Ms Nassif was granted bail in May last year after her family deposited a $2.6m surety.

As part of her bail conditions, she is not permitted to contact dozens of people, including her father.

Originally published as Big legal play for property heiress accused of massive fraud