Twist in fugitive daughter's $150m fraud case

Yahoo

16-07-2025

The glamorous daughter of a controversial property developer is hoping to get fraud charges relating to an alleged $150 million loan to help her father build one of Sydney's biggest apartment towers thrown out of court.
Ashlyn Nassif, 30, is alleged to have falsified documents to meet a $10.5m pre-sale condition for three towers of the Skyview apartments complex in Castle Hill in Sydney's northwest.
Her father Jean Nassif is believed to be on the run in Lebanon and while police have not charged him, officers have issued a warrant for his arrest.
Ms Nassif did not appear in Burwood Local Court on Wednesday where her matter was briefly mentioned.
The prosecution told Magistrate Robyn Denes they were seeking further time to consider a proposal by the defence, which was not opposed.
NewsWire understands a 'no bill' application has been put forward by Ms Nassif's solicitor Warwick Korn, which the DPP is considering.
A no bill application, or a no further proceedings application, is a request before the NSW Local Court to discontinue a criminal case, usually due to claims of insufficient evidence.
In an earlier two-day hearing in April, Ms Nassif attended Burwood Local Court and cried as her solicitors told the court her fugitive father had 'left his daughter to fend for herself'.
In the hearing before Burwood Local Court, a sacked Westpac employee who worked with Mr Nassif gave evidence.
Graham Smith, a former relationship manager at Westpac who had worked with and maintained a professional relationship with Mr Nassif since 2009, was questioned at length about three 'private commercial dealings' with the fugitive.
The court was told Mr Smith was allegedly paid a total of $150,000 for 'consultancy work' as well as an overseas holiday to the US along with his family.
These dealings were not disclosed to his former employer Westpac, which Mr Smith conceded he 'knew was a conflict of interest'.
Mr Smith told the court he had been 'generally' honest with his former employer during an internal investigation before he was sacked.
Lawyers for Ms Nassif told NewsWire outside court after the hearing that the case had 'changed significantly', prompting the no bill application.
Ms Nassif was first charged in February 2023 with dishonestly obtaining a financial advantage by deception and publishing false or misleading material and remains on conditional bail.
She is yet to enter any pleas.
Police allege Ms Nassif submitted fake contracts to Westpac over three months in 2021 to obtain a $150m loan to fund about 900 apartments.
The $900m apartment tower complex was built by Mr Nassif's development company Toplace, which spectacularly collapsed late in 2023.
The matter will return to court in September.