Unmasking a Key Player in a $2M Mortgage Fraud: The Role of Michael Pesochinsky

Date: 16 September 2024 | Time: 08:00 AEST

In a troubling case of mortgage fraud and deception, a new spotlight is now on Michael Pesochinsky, a central figure in a coordinated scheme that left a grieving widow financially devastated. The story of Andria Lappas is one of trust betrayed—first by a family member, then by the very individuals entrusted to protect her financial future.

The Setup: A Widow, A Loan, and a Lie

Following the death of her husband, Andria Lappas turned to someone she believed she could trust—her late husband’s cousin, Andrew Fotomaras. Exploiting her vulnerability, Fotomaras proposed a development investment funded through a mortgage against her home. He introduced her to Michael Pesochinsky as a trusted facilitator to secure the loan. What followed was a calculated act of deception that would leave Andria facing more than $2 million in mortgage debt and no repayment from the very man she was trying to help.

The Role of Michael Pesochinsky

According to a detailed forensic report by 5 Sided Square Pty Ltd, Pesochinsky received $50,000 in cash from Andria Lappas to arrange a loan through Macquarie Bank. But rather than act in her interest, he provided fraudulent documentation to mortgage broker Andrew Gill—including forged signatures and falsified financial statements—to misrepresent Andria’s financial position and secure the loan under false pretenses.

What makes Pesochinsky’s actions especially troubling is his deliberate misdirection. He simplified the fraudulent loan structure in a handwritten note to Andria, building false confidence and trust. Meanwhile, he was working closely with Gill and lawyer Dallas Sather—both named as persons of interest in the same fraud investigation—through their jointly connected entity, Australian Integrity Investments Pty Ltd.

A Coordinated Web of Fraud

Pesochinsky’s background as a former mortgage broker allowed him to skillfully exploit the system. This wasn’t a one-off scam—it was part of a larger, organized scheme. Andrew Gill, despite denying knowledge of Fotomaras, brokered multiple loans for him using questionable documentation, while Dallas Sather represented Fotomaras legally despite having direct business interests with Pesochinsky.

The evidence is clear: this was a coordinated financial hit on a widow during one of the most vulnerable times in her life.

Referrals Now Made to Authorities

This investigation has now formally been referred to both the Victorian Police Fraud Squad and the Australian Federal Police (AFP). The matter is no longer speculative—it is now under criminal consideration. Pesochinsky, along with his associates, could face a range of serious charges, including:

• Fraud

• Obtaining financial advantage by deception

• Forgery

• Money laundering

• Tax fraud

• Conspiracy to commit fraud

Each of these offences carries penalties of up to 10 to 25 years in prison, and bankruptcy will not shield the perpetrators from prosecution.

No More Warnings

This case is not just about restitution. It is about justice. Justice for a woman who placed her trust in the wrong hands and was deceived at every step. The clock is no longer ticking—it has run out.

Michael Pesochinsky’s name now stands publicly beside those of Andrew Fotomaras, Andrew Gill, and Dallas Sather. The authorities are involved, and the road ahead will be paved by the consequences of their actions.