Jean Nassif’s daughter Ashlyn Nassif pleads guilty to fraud
The daughter of embattled property developer Jean Nassif has admitted forging documents to obtain a $150 million Westpac loan for the construction of apartment towers in Sydney’s northwest.
Ashlyn Nassif pleaded guilty in Burwood Local Court on Wednesday to publishing false material for the purpose of obtaining financial advantage. This was the culmination of years of proceedings and months of negotiations between the parties.
The second charge of dishonestly obtaining financial advantage in the plea agreement was also withdrawn.
The apartment tower complex was built by Toplace, a development company owned by Jean Nassif. Although an arrest warrant was issued for him after he left Australia for Lebanon in 2022, no criminal charges were filed against him. Dozens of Toplace-related companies are in administration.
Prosecutors accused Ashlyn Nassif, a trained attorney, of obtaining a $150 million bank loan through a fraudulent pre-sale agreement for Skyview Apartments in Castle Hill in 2021. The court heard the facts surrounding the charge were not yet established.
Nassif was admitted as a solicitor in November 2018 and practiced at EA Legal in the Sydney CBD. After his arrest in 2023, he was suspended from the legal profession.
Detectives formed Strike Force Calool in April 2021, which was tasked with investigating allegations of financial crime relating to Toplace.
Police raided several homes and businesses across Sydney, including Toplace’s office. After the raids, Nassif surrendered to the police.
He was released on conditional bail after his family paid $2.6 million bail.
Shortly after Nassif’s arrest, the court heard the charges were “part of a complex and planned situation” and were “extremely serious in nature” given his position as a lawyer. However, the judge added that he had no criminal record and appeared in court as a person of good character.
Nassif was accompanied by supporters in court on Wednesday and remained silent as he walked past media waiting outside.
He had attended Burwood Local Court several times in recent months as the parties repeatedly assured the judge that the matter was close to completion.
Nassif will appear in court in September for a hearing at which the alleged facts will be revealed.
from AAP
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