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Campbell Live

Indebt mortgage broker faces victims

Monday 27 Jun 2011 7:00p.m.

Indebt mortgage broker faces victims

She fancied herself as a high flyer in the financial world, but she has made headlines for all the wrong reasons.

Kerry Buddle worked as a mortgage broker, and left behind grief and financial ruin. She admits she has debts of hundreds of thousands of dollars - others believe they could run into the millions.

Several people lost their houses, and others are struggling with debt.

But she says she's been unfairly portrayed and wants to pay back every cent.

She came to Campbell Live to tell her side. We said only on the condition she front up to one of her victims and tell them how she intends to put it right.

She did so - on camera.

Jenny and Bryron Twist handed over $32,000 in March last year, and they haven't seen it since.

The Twists took out a loan to give Ms Buddle the money. She told them it was to help a UK couple buy a house - but that's not what she said on the paperwork to the lender, Basecorp.

Ms Buddle says she'll repay the Twists soon.

"I would like it to be within a year. I want this closed and moved on," she said.

One woman, who does not wish to be identified, says she has no hope of ever owning another house after she loaned money to Ms Biddle, and then lost her home. 

"[Ms Buddle has] totally destroyed my life. I'm on a sickness benefit. What am I meant to do?"

Ms Buddle has promised to keep in contact with her victims – and will repay them.

The many people she owes hundreds of thousands of dollars to say they’ll believe it when they see the money, and not before.

New financial regulations mean it is now illegal for a financial adviser to borrow money from a client as Ms Buddle did.

Watch Richard Langston’s report.

 
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