Citigroup has launched an issue of residential mortgage-backed securities, seeking A$500 million of funds. Securitised Asset Mortgage Trust 2015-1 is backed by a pool of mortgages originated by Citibank. The Australian Securities and Investments Commission has banned a finance broker, Raghwa Nand Prasad of Sydney, from providing financial services and engaging in credit activities for four years after it found he had created false loan documents to secure mortgages worth more than A$3.6 million. Prasad included false documents in seven loan applications between 2008 and 2011, knowing the documents were false. Prasad's former wife and broker assistant, Shashi Kanta Prasad, was banned for ten years in May.