Andrew Matthews, 38, exploited the bank’s “introducer” scheme, using it to funnel commission money to himself and a friend between 2012 and 2016.
“You were the driving force behind the fraud,” Victorian County Court Judge Claire Quin said on Monday.
Some of the $640,000 cash was spent on a luxury vehicle which Matthews “could ill-afford”, Judge Quin added.
The car has been reported by some media outlets as a Ferrari. Clients would unknowingly sign forms saying co-accused Nicola D’Agostino had introduced them to Matthews, and the men would divide the commission from the bank.
However, the loans themselves were not fraudulent and the clients were genuinely assessed for their suitability and none defaulted.
The scheme was only uncovered when NAB undertook an internal audit, the judge explained.
Matthews also tried to get more than $13,000 worth of commissions in the same way in 2016 but NAB rejected the payments.
The judge took into account Matthews’ guilty plea, poor mental health, good prospect of rehabilitation and his lack of criminal history. Matthews was ordered to serve eight months behind bars, plus an additional 28-month suspended sentence.
He must also also pay more than $583,000 in compensation.
In September D’Agostino was ordered to repay more than $67,000 and complete 125 hours of community work after pleading guilty to two charges of recklessly dealing with proceeds of crime.
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