Madhvan Nair, a former mortgage broker with Aussie Home Loans (which is now wholly owned by Commonwealth Bank) yesterday admitted to eighteen charges brought by ASIC in connection with "loan applications and supporting documents which he knew contained false information, to secure approvals for home loans from Westpac, National Australia Bank, and ANZ."The Australian Securities and Investments Commission publicised the plea yesterday on a matter heard at the Downing Centre Local Court.ASIC, in a media release, said its investigation "found that between September 2012 and June 2014, Nair submitted eighteen loan applications worth A$5.6 million containing false borrower employment documents. "Of the eighteen loan applications, twelve were approved and disbursed, totaling $3.7 million," it said.ASIC said Nair received commission on those twelve loans of $7,583. In addition Nair received cash payments totalling $2500 from two of the loan applicants upon approval of their loan applications. Nair therefore received a financial benefit of $10,083 as a result of the approved loan applications.The eighteen loan applications ranged in value from $10,000 to $490,875.Nair will next appear in court on 30 August for sentencing