The Australian Securities and Investments Commission has permanently banned Marten Pudun, a former Westpac relationship manager, from engaging in credit activities.

An investigation found that Pudun gave false documents and information to Westpac to help his clients obtain home loans. In relation to 24 loan applications he allegedly helped create false supporting documents including payslips, employment letters and rental estimate letters and/or accepted documents that he knew to be false and/or was reckless in not investigating whether they were false.

In one instance, he reportedly asked someone to change the employment positions on customers’ employment letters and payslips from director to marketing manager and IT programmer. This is because, as he apparently said in an email, he did not want the “deal to stuff up” and if the customers were referred to as directors, Westpac may ask for tax returns. He also allegedly people to generate false letters in support of loan applications, which contained weekly rental estimates for various properties. In other instances, he allegedly provided example documents to customers so that they could create false documents to support their loan applications. He then went against Westpac policy by sharing customers' internet and telephone banking passwords, account opening forms, transaction histories and identifying documents with people outside the bank. It is because of his alleged dishonesty that ASIC has decided that he is not a fit and proper person to engage in credit activities. This is not, however, the end of its investigation.