A woman accused of being at the centre of a multi-million dollar mortgage scam has pleaded not guilty to charges laid by the Serious Fraud Office.
Eli Devoy, also known as Ellie Stone, is charged with obtaining by deception, along with two of her brothers, Mehrdad Ghorbani and Mehrzad Ghorbani, sister in law Nasrin Kardani, family friend Javad Torabay and another man with name suppression.
All the accused have denied the charges.
Serious Fraud Office prosecutor Todd Simmonds told the Auckland District Court members of the group would buy houses, usually at mortgagee sales, and sell them on to associates at ramped up prices.
Mr Simmonds said documents such as deposits slips and wages were falsified in order to trick banks into lending more than $5.8 million.
He told the court 11 properties were sold in three years, some more than once.
The trial is due to hear from 50 Crown witnesses.