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NSW Home Loan mortgage Misuse by Son-in-Law - Is This Criminal?

Discussion in 'Criminal Law Forum' started by CherylK, 26 November 2014.

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  1. CherylK

    CherylK Member

    26 November 2014
    Likes Received:
    I gave my daughter and her husband $300,000 towards the purchase of our property. I paid half of the
    cost and they got a mortgage which I had to sign as I own half of the property.

    Recently the husband was arrested on sexual assault charges against his employees and myself.

    At this time I looked at the mortgage for the first time, and found that they had used the money from the mortgage to buy their business, cars, holidays, wedding, and work around the property (of which I paid half).

    I want to sell but am afraid that under the circumstances there will not be enough money to buy a home for myself and my 92 dementia-suffering mother. (It was from the sale of her house that the $300,000 came, as she had wished the house split between her 2 grandchildren.) I think the property will yield the amount that we spent but because of the misuse of the funds when split in two there could be a big problem for Mum and myself.

    Is this embezzlement or fraud? Or is it even a criminal matter as it is their mortgage with my name on it?
  2. Michael T

    Michael T Well-Known Member

    9 April 2014
    Likes Received:
    Hi Cheryl,
    So you are all named on the mortgage, or just you?
    Have you confronted them for your money back?
    Have you spoken to the bank about potential options?

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