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Appeal loss for mortgage fraudster

Former Auckland socialite Eli Devoy has lost her appeal against her convictions and sentence for her involvement in a $9.2 million mortgage fraud scheme.

Tuesday, June 6th 2017, 12:01PM

by Miriam Bell

The scheme involved a series of transactions between 2007 and 2010 which deceived lending institutions into approving mortgage applications that contained false information and supporting documents.

Devoy, who was considered the ringleader of the group involved, was found guilty of 17 charges in relation to the scheme in June last year.

She was sentenced to five years jail with a minimum period of imprisonment of two years and six months.

While Devoy appealed her conviction and sentence to the Court of Appeal on the grounds that her trial lawyers made errors, three judges have now overturned her appeal.

Court of Appeal Justices Rhys Harrison, Murray Gilbert and Sarah Katz said the evidence of Devoy’s guilt was overwhelming.

"She has no rational basis for continuing to deny criminal liability," they said in their decision.

The Court of Appeal judges said both Devoy’s lawyers discharged their obligations with skill and care in demanding circumstances, while the judge had considered the evidence in meticulous detail.

"Devoy was the beneficiary of a very fair and competent judicial evaluation of charges to which she had no credible defence," they said.

"She cannot possibly claim that justice has miscarried in her case.”

In the original trial, Judge Brooke Gibson said there was a high level of "pure deceit and dishonesty" in Devoy’s offending.

She also told Devoy there was a complete absence of remorse on her part and that her protestations of innocence verged on fantasy.

Read more:

Mortgage fraudster heading to prison 

Tags: banks Lending Mortgages serious fraud office

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Lender Flt 1yr 2yr 3yr
AIA - Back My Build 3.34 - - -
AIA - Go Home Loans 6.14 4.75 5.25 5.29
ANZ 6.04 ▲5.59 ▲6.09 ▲6.19
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - ▲4.99 ▲5.49 ▲5.59
ASB Bank 6.04 ▲4.99 ▲5.45 ▲5.45
ASB Better Homes Top Up - - - 1.00
Avanti Finance - Near Prime 6.60 - - -
Avanti Finance - Specialised 7.75 - - -
Basecorp Finance 6.35 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Mortgage One 6.19 - - -
BNZ - Rapid Repay 6.19 - - -
BNZ - Std 6.09 ▲4.99 ▲5.45 ▲5.45
BNZ - TotalMoney 6.19 - - -
CFML 321 Loans 4.20 - - -
CFML Home Loans 6.30 - - -
CFML Prime Loans 6.45 - - -
CFML Standard Loans 7.20 - - -
China Construction Bank 6.44 4.85 4.95 4.95
China Construction Bank Special 6.44 5.85 5.95 5.95
Co-operative Bank - First Home Special - 4.74 5.29 5.59
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Owner Occ 5.34 4.84 5.39 5.69
Co-operative Bank - Standard 5.34 5.34 5.89 6.19
Credit Union Auckland 7.70 - - -
First Credit Union Special - 5.09 5.49 -
First Credit Union Standard 6.49 5.69 6.09 -
Heartland Bank - Online 5.80 5.89 - -
Heartland Bank - Reverse Mortgage 7.99 - - -
Heretaunga Building Society 6.50 5.50 5.65 -
ICBC 5.39 4.49 4.99 5.25
Kainga Ora 5.79 4.59 4.95 5.19
Kainga Ora - First Home Buyer Special - - - -
Lender Flt 1yr 2yr 3yr
Kiwibank 6.00 ▲5.85 ▲6.29 ▲6.29
Kiwibank - Offset 6.00 - - -
Kiwibank Special ▲6.00 ▲4.95 ▲5.39 ▲5.49
Liberty 6.65 6.55 6.22 6.20
Nelson Building Society ▲6.79 ▲4.99 ▲5.49 -
Pepper Money Near Prime 6.55 - - -
Pepper Money Prime 5.99 - - -
Pepper Money Specialist 8.00 - - -
SBS Bank 5.84 5.39 5.89 5.89
SBS Bank Special - 4.69 5.29 5.29
SBS Construction lending for FHB 3.74 - - -
Lender Flt 1yr 2yr 3yr
SBS FirstHome Combo 3.29 4.29 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 7.99 - - -
TSB Bank 6.59 5.49 6.05 6.29
TSB Special 5.79 4.69 5.25 5.49
Unity First Home Buyer special - 4.15 - -
Unity Special ▲6.04 4.80 5.29 -
Unity Standard ▲6.04 5.60 6.29 -
Wairarapa Building Society 6.15 4.95 5.45 -
Westpac 6.14 5.59 6.05 5.95
Westpac Choices Everyday 6.24 - - -
Lender Flt 1yr 2yr 3yr
Westpac Offset 6.14 - - -
Westpac Special - 4.99 5.45 5.35
Median 6.15 4.99 5.47 5.49

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