A senior Commonwealth Bank (CBA) home lending executive, earning up to $450,000 annually, has failed in his unfair dismissal claim after the Fair Work Commission determined the bank had valid reasons to terminate his employment.
Shun Wang, a former Reserve Bank auditor, was dismissed by CBA for alleged breaches of lending, privacy, and technology policies. An internal investigation was initiated in November 2024 following a complaint received through the bank's whistleblower program.
The investigation uncovered instances where customer income was not properly verified or recorded, and Mr. Wang used personal communication channels, including WeChat and a personal mobile phone, to discuss confidential customer loan matters. While cleared of allegations related to refinancing problematic loans or improper payments, a broader review flagged significant transactions.
CBA's investigation noted that five customers referred through a company called JS Sonic paid an individual named Zonghui 'Hugo' Feng nearly $49,000. Additionally, JS Sonic made payments totaling over $81,000 to Feng, and a law firm, Regis Lawyers, made payments exceeding $61,000, with descriptions like 'service fee' and 'referral fee'. The bank viewed these payments as a red flag, suggesting Feng may have been acting as an unapproved mortgage broker, contrary to the bank's referral program rules which prohibit direct or indirect involvement by mortgage brokers.
During the investigation, Mr. Wang repeatedly denied knowing Zonghui Feng. However, a forensic review of his work phone revealed a contact saved as 'Hugo', and evidence emerged of a WeChat group involving Mr. Wang, a referral partner, and Feng, which was used to share customer leads and loan updates. These messages were reportedly deleted before investigators could access them.
Deputy President Gerard Boyce of the Fair Work Commission was critical of Mr. Wang's testimony, describing it as a "chaotic collection of lies, nonsense, poorly matched ideas, and manufactured responses." Boyce rejected Mr. Wang's explanation that he only knew Feng as 'Old Hu,' calling it "unbridled nonsense" and a "complete fabrication." The commission found that Mr. Wang had intentionally misled both the bank's investigators and the Commission itself.
Mr. Wang also admitted to failing to properly record employment income on some loan applications, citing reasons such as forgetting or being "lazy to verify the PAYG income." He further admitted to providing loan approval and settlement updates via the WeChat group.
Ultimately, the commission concluded that the bank had a valid reason to dismiss Mr. Wang due to his failure to verify customer income, improper use of WeChat for loan discussions, and repeated deception regarding his relationship with Feng. The decision means Mr. Wang will not be reinstated to his position.