A Sydney court recently heard that Ashlyn Nassif, 32, the daughter of fugitive property developer Jean Nassif, pleaded guilty to providing false or misleading information to secure a $150 million construction loan from Westpac in 2021. The loan was used to build three apartment towers in Sydney’s north-west. While Ashlyn accepted her role in the matter, her lawyer, Murugan Thangaraj SC, argued that her father, Jean Nassif, also played a significant part in the events.
Jean Nassif, now 58, had offered to appear via video link but provided a medical certificate to excuse himself. He fled Australia for rural Lebanon in 2022 and has previously denied any wrongdoing. Separately, the NSW Independent Commission Against Corruption (Icac) is investigating claims that NSW Liberal political figures received a $2 million payment from Jean Nassif, potentially in breach of the NSW Electoral Funding Act.
In court, Thangaraj described how Ashlyn’s former stepmother had spoken of experiencing a decade of coercive control, which he said was consistent with how Jean Nassif treated his daughter. According to the lawyer, Jean Nassif would pressure his daughter to lose weight, consider weight-reducing surgery, or undergo cosmetic procedures so "she could look better and he could show her off." Thangaraj also stated that Jean Nassif had told his daughter he was "desperate" for the Westpac loan, and that she agreed to help despite knowing it was wrong.
Jean Nassif, who was the head of the now-defunct construction firm Toplace, is being pursued by NSW police following a two-year fraud investigation. A warrant for his arrest has been issued, and 57 companies linked to Toplace are currently in administration. Ashlyn Nassif was due to be sentenced on Monday afternoon. The prosecution had argued that she knew the purchasers and contractors at Toplace did not meet the legal definition of an "at arm’s length" transaction, a key requirement for such loans. The defense has disputed this claim.
Sydney Court Hears Daughter of Fugitive Developer Admitted to Falsifying Loan Documents
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