NAB welcomes ASIC’s decision to ban two former NAB bankers, who were investigated by ASIC for loan fraud.

ASIC today announced its decision to permanently ban Mr Samar Merjan (also known as Samar Awad) and Mr Danny Merhab from engaging in credit activities and providing financial services.

Mr Merjan and Mr Merhab were both terminated from their employments with NAB in November 2015. NAB reported them both to ASIC.

The bans follow NAB’s announcement of a remediation program for home loan customers in November 2017, after an internal review found some home loans may have been submitted with inaccurate customer information and/or documentation, or incorrect information in relation to NAB’s Introducer Program.