The Southport District Court has sentenced a Gold Coast man to a minimum 15-month jail term for fraudulent dealings including the use of false birth certificates to buy insurance policies.

Former property developer Darryl Loane was sentenced to eight years’ jail following an ASIC investigation, and will serve at least 15 months.

ASIC said Mr Loane used false birth certificates to open 25 bank accounts and a range of insurance policies.

He used the documents to establish a range of tax file numbers and Australian Business Numbers, and claimed close to $200,000 in fraudulent refunds.

It was also alleged Mr Loane deceived lenders during the successful application of a $4.7 million mortgage for a Whitsunday property.