Mr Serhan Ulucanli of Auburn, New South Wales, was sentenced on 18 May 2018 at the Downing Centre District Court for twice obtaining credit by fraud and for contracting debts that he was unable to repay.
In October 2012, Mr Ulucanli obtained a personal loan of $50,000 from the Commonwealth Bank. In his loan application he failed to disclose two existing debts to the Westpac Bank totalling approximately $68,000 which were incurred between August and September 2012.
On 11 December 2012, he obtained a personal loan of $40,000 from the St George Bank.
On 13 December 2012, he obtained a personal loan of $40,000 from the ANZ bank. In his loan application he failed to disclose his debts to the Westpac Bank, the Commonwealth Bank and the St George Bank.
In December 2012, Mr Ulucanli also obtained a credit card from the ANZ Bank and by 31 December 2012 had incurred a debt of $5,850.
Mr Ulucanli became bankrupt on 22 March 2013 as a result of a debtor’s petition with debts over $200,000.
Mr Ulucanli entered a plea of not guilty and appeared in the District Court during an eight day trial in November 2017.
He advised the court that a person named Bill who he met at the Wentworthville Leagues Club had completed and submitted the loan applications on his behalf.
He also gave evidence that the funds were mostly used to pay for his wedding.
During the sentence proceedings, Mr Ulucanli retracted his evidence in relation to the existence of a person named Bill and advised the court that his brother encouraged him to apply for the loans and subsequently apply for bankruptcy.
Mr Ulucanli was sentenced to 18 months imprisonment to be released on a 3 year good behaviour bond after serving 12 months. He was also fined $10,000.
During sentencing, His Honour Judge Blackmore commented that during the trial Mr Ulucanli had offered “the most feeble of excuses”.
His Honour also noted that general deterrence was important as the loan funds had been used to pay for an extravagant wedding and the costs would be passed onto consumers as a consequence of the bankruptcy.
The matter was prosecuted by the Commonwealth Director of Public Prosecutions on behalf of the Australian Financial Security Authority.