Australian Securities & Investments Commission reports sentences of up to six years for Remedy Housing officers over dishonesty offences

The Australian Securities & Investments Commission (ASIC) announced that the County Court of Victoria has sentenced Remedy Housing officials Brent Smith, Mahmoud Khodr and Fue Mano for dishonesty offences linked to promoting purported interest-free mortgages. Smith was sentenced to six years and two months’ imprisonment with a non-parole period of three years and six months, Khodr to five years’ imprisonment with a non-parole period of three years, and Mano to 30 months’ imprisonment with 18 months to serve followed by a Recognisance Release Order for 12 months. Between 2019 and 2021, Remedy Housing received deposits from around 107 customers totalling AUD 1.83 million; Smith and Khodr jointly misappropriated AUD 754,574, and Smith misappropriated a further AUD 19,500. The offending involved dishonest representations that deposits of at least AUD 10,000 would secure an interest-free mortgage within 12 months, that deposits would be refunded if a mortgage was not provided within that timeframe, and that the business was financed by overseas investors. The court noted the scheme targeted vulnerable customers, and found Remedy Housing had no investors or funders, never provided any mortgages, and used customer funds to operate the scheme or transfer money to Smith’s and Khodr’s personal accounts; reparation orders required Mano to pay AUD 106,950 to seven victims and Smith and Mano to pay AUD 85,000 to four victims. ASIC investigated the matter and the Office of the Director of Public Prosecutions (Cth) prosecuted. ASIC previously obtained interim orders and injunctions in June 2021 to shut down Remedy Housing, with charges laid in June 2022 and convictions recorded in July 2025.