THE life of former star footballer with the Sydney Swans and high-profile coach Daryn Cresswell hit a new low yesterday when he was refused bail after appearing in Sydney’s Manly Local Court over fraud charges.

THE life of former star footballer with the Sydney Swans and high-profile coach Daryn Cresswell hit a new low yesterday when he was refused bail after appearing in Sydney’s Manly Local Court over fraud charges.

He is to be extradited to Queensland today to face the charges. The alleged real estate scam involved a friend of Cresswell, real estate agent Peter Richard Smith, and false loan application documents.

Police allege that in 2005 and 2006 Cresswell made two loan applications for $80,000 and $240,000 to the National Australia Bank using documentation obtained by Mr Smith, who was born on 30 April, 1958, and claimed to be the owner of a house at Third Avenue, Coolum Beach. The money was paid as a variable interest home loan to a company, Dardon Financial Services, of which Cresswell and his wife were directors.

The house at Coolum Beach is owned by a different Peter Richard Smith, born on 12 October, 1946, who was allegedly unaware loans were being taken out using his house as collateral.

Police allege the real estate agent Mr Smith, who assisted Cresswell, did not benefit from the deal and has since turned state witness. He and Cresswell are no longer friends.

At the time of the offences, Cresswell was assistant coach for the Brisbane Lions Football Club. He has previously acknowledged in the media being a problem gambler, and he was declared bankrupt in April.

In the dock yesterday, he appeared pale and distressed.

In media reports at the time of his bankruptcy, he blamed his chronic gambling habit for the loss of all his assets.

Cresswell presented himself to North Sydney Police yesterday to answer questions relating to six outstanding warrants, and was subsequently arrested. Queensland Police will accompany him to Maroochydore today.

In opposing bail, police argued that he posed a flight risk because he was highly likely to face a custodial sentence and had been attempting to avoid theconsequences of the false loans since they were taken out in 2005-06.

Credit: John Stapleton