A mortgage broker and agent of Commonwealth Bank has evaded a prison sentence following a conviction for 18 charges involving the submission of false or misleading information to banks.Madhvan Nair, a former mortgage broker with Aussie Home Loans - a subsidiary of CBA at the time of the offences - was convicted and sentenced in the Downing Centre Local Court in Sydney last week. The Australian Securities & Investments Commission publicised Nair's conviction and sentence yesterday.ASIC, in a media release, said Nair was convicted "after admitting to providing documents in support of eighteen loan applications to Westpac, ANZ and National Australia Bank knowing that they contained false or misleading information. "The applications contained documents which purported to be from the applicant's employer. These documents were false and in most instances, the loan applicant had never worked for the particular employer."Nair received commission on twelve loans of A$7,583, ASIC said, as well as cash payments of $2500 from two of the loan applicants. Nair "received a total financial benefit of $10,083.49 as a result of the approved loan applications," ASIC said.ASIC advised that for each and all eighteen charges, Nair was convicted and released upon entering into a recognisance in the amount of $1000 on the condition that he be of good behaviour for three years.        In sentencing Nair, ASIC said the magistrate, Jennifer Atkinson, noted that "Nair had no prior convictions, ill health, gained a relatively small financial benefit, pleaded guilty and provided a high level of cooperation with ASIC."