AUCKLAND, New Zealand — Gurraj Singh Bhachu has been sentenced to nine months’ home detention after pleading guilty to 12 charges related to falsifying loan applications and obtaining nearly $3 million in mortgages.
Bhachu left New Zealand in 2019 and returned in December 2023, when he was arrested by the Serious Fraud Office (SFO) as part of an investigation into alleged mortgage fraud. Authorities said he provided false information and documents about his income to banks and conveyancing lawyers to secure $2,862,650 in loans across four properties.
SFO Director Karen Chang stated the offending “undermined the integrity of New Zealand’s lending system,” misleading banks about the borrower’s financial position and risk exposure, which affects ordinary New Zealanders seeking home loans.
Five others are also facing charges in connection with the investigation. Francis (Frank) Peters, a lawyer at the time, received home detention in August 2024. Christopher Peters, Robert Peters, Gerard Peters, and Serene Peters face ongoing charges for allegedly obtaining $1.8 million by deception, with Christopher and Robert Peters also charged with forgery as an alternative.
