Former NAB manager slapped with life ban by ASIC

An ASIC investigation found the former western Sydney branch manager falsely claimed loans had been referred by introducers.

A National Australia Bank branch in Adelaide. Picture AAP

ASIC has slapped a permanent ban on former NAB branch manager Mathew Alwan following an investigation into the bank’s employees in the western Sydney area.

The investigation by the Australian Securities and Investments Commission found that a number of NAB employees were accepting false documents in support of loan applications and falsely attributing loans as having been referred by NAB introducers in order to obtain commissions.

Between 2012 and 2015, Mr Alwan assigned 101 home loans as being referred to by an introducer, which would have paid more than $186,000 in commissions to the introducer.

ASIC found that the introducer was a relative — a fact he did not disclose to NAB and actively concealed from the bank when questioned.

In 25 of the loan applications, Mr Alwan had knowingly given NAB false or misleading information and documentation.

The ongoing investigation is considering whether a brief for criminal charges should be referred to the Commonwealth Director of Public Prosecutions.

“ASIC found that Mr Alwan’s conduct was dishonest, deliberate and repeated,” the regulator said in a statement.

“ASIC also found Mr Alwan personally lent money to an NAB staff member who reported to him and to an NAB customer while loan applications by each of them were pending approval, creating an unacceptable conflict of interest.”

Mr Alwan has the right to lodge an application for review the decision with the Administrative Appeals Tribunal.

NAB has identified about 2,300 home loans since 2013 that could have been submitted with false information or documentation.