GE Money has had to wear a loss of $124,000 on a loan to Sydney borrower after the Supreme Court of New South Wales ruled that a broker submitted forged and fraudulent paperwork to the lender.GE earlier this month won court orders enabling it recover the money from the broker, Duc Hong Truong, also known as Johnny Truong, and who traded as First Priority Home Loans.Truong submitted a "FastDoc" loan application through AFIG, a GE affiliate, in 2006. This was one of the "no doc" loans offered by GE at the time. The loan was for $500,000, of which more than $200,000 was diverted to another party with ties to Truong. While the court has found Truong is liable to pay GE the lender is likely to find itself wearing the loss.In mediation preceding the court case the borrower, Peter Hoey, won an extension of time to make arrangements to sell his home and repay only part of the loan.