source : the age
The daughter of embattled property developer Jean Nassif has admitted to falsifying documents to secure a $150 million Westpac loan for the construction of apartment towers in Sydney’s north-west.
Ashlyn Nassif pleaded guilty at Burwood Local Court on Wednesday to publishing false material to gain a financial advantage. It was the culmination of years-long proceedings and months of negotiations between parties.
A second charge of dishonestly obtaining financial advantage was withdrawn in the plea deal.
The apartment tower complex was built by Toplace, a development company owned by Jean Nassif. A warrant is out for his arrest after he left Australia for Lebanon in 2022, though he has not been criminally charged. Dozens of Toplace-linked companies are in administration.
Prosecutors accused Ashlyn Nassif, a trained solicitor, of obtaining the $150 million bank loan through a falsified pre-sale contract for the Skyview Apartments in Castle Hill in 2021. The court heard the facts of the guilty charge are yet to be finalised.
Nassif was admitted as a lawyer in November 2018 and worked at EA Legal in Sydney’s CBD. She was suspended from practising law following her arrest in 2023.
Detectives established Strike Force Calool in April 2021, tasked with investigating alleged financial crime related to Toplace.
Police raided several homes and businesses across Sydney, including the Toplace office. Following the raids, Nassif presented herself to police.
She was released on conditional bail after her family posted a $2.6 million surety.
Shortly following Nassif’s arrest, a court heard the charges were “part of a sophisticated and planned situation” and were “extremely serious in nature”, given her position as a legal practitioner. However, the judge added that she came before the court with no criminal record and as a person of good character.
Nassif was accompanied by supporters in court on Wednesday and was silent as she walked past media waiting outside.
She had attended Burwood Local Court many times in recent months, as parties continually assured the judge the matter was close to completion.
Nassif will next face court in September for a hearing in which the alleged facts will be hashed out.
With AAP
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