Ex-broker admits to more charges in FMA case

The case will conclude in March

Ex-broker admits to more charges in FMA case

Natalie Ann Carter, a former mortgage broker from Hawke’s Bay, has admitted guilt to three additional charges in the Napier District Court in the ongoing prosecution by the Financial Markets Authority (FMA).

Carter faced 15 charges stemming from an investigation into her conduct from 2018 to 2021. She pleaded guilty to eight charges during a court appearance in November. As part of the plea agreement, FMA has withdrawn the remaining four charges against Carter, streamlining the prosecution process.

The three additional charges include making a false document, making false or misleading statements, and attempting to deceive or knowingly mislead the FMA.

Carter is scheduled to be sentenced on all charges in the Napier District Court on March 12, marking the conclusion of legal proceedings.

Background of the case

Between 2018 and 2020, Carter created fraudulent documents to secure home loans for herself and clients, totaling $2.91 million. Following concerns and termination of her engagement in January 2020, FMA launched an investigation.

During the investigation, Carter misled the FMA about the extent of her alleged offenses. In April 2021, while applying to join another brokerage, she made false statements on FMA documents, failing to disclose the ongoing investigation.

The lead charge under the Crimes Act carries a maximum penalty of 10 years’ imprisonment, while the false or misleading statements charge under the FMC Act holds a maximum penalty of five years' imprisonment, a $200,000 fine, or both. The obstruction charge under the FMA Act carries a maximum penalty of a $300,000 fine.

Click here for the FMA media release. For the previous FMA release on the case, click here.

Get the hottest and freshest mortgage news delivered right into your inbox. Subscribe now to our FREE daily newsletter.