A mortgage broker allegedly defrauded up to $5 million and threatened clients who planned to inform police, a Sydney court has been told. Samer Hraiki appeared in Central Local Court on Tuesday charged with deceptive conduct as well as traffic-related matters.

Hraiki’s lawyer William Barber said his client, a finance broker of many years, encountered financial difficulties while developing a property in Kings Cross, which would have realised tens of millions of dollars in profit.

Mr Barber told the court Hraiki did what he could to get himself out of debt.

The prosecution said Hraiki undertook a lengthy course of dishonesty offences and for two years engaged in activities including falsifying cheques and pawning property.

Prosecutor Karl Prince said Hraiki threatened clients who suggested they would expose his conduct to police.

Mr Prince said one victim alone lost $490,000.

Magistrate Allan Moore refused bail saying Hraiki’s behaviour had gone on unabated.

“At one point there was $5 million of activities of a dishonest nature,” Mr Moore said.

The matter will be back in court on July 23.

AAP