Police raid criminal group that stole $1m

·1-min read

NSW Police have charged four people after they busted a criminal syndicate alleged to have ripped people off of more than $1 million.

The syndicate was allegedly using shell companies, cheque books, EFTPOS terminals and banking profiles to steal the money.

High-end clothing, a Mercedes-Benz luxury sedan, EFTPOS terminals and thousands in Australian and US currency were seized in a series of raids across Sydney on Thursday morning.

The alleged ringleader, a 33-year-old man, and a 42-year-old woman were arrested at their Bankstown flat before being charged.

They were refused bail and are due to appear at Bankstown Local Court on Friday.

Another two men, aged 29 and 39, were arrested at units in Pyrmont and Haymarket on Thursday before they were charged.

The pair are due in court later this month.

The ringleader faces 52 charges related to stealing identities, dishonestly obtaining financial advantage, dealing with proceeds of crime and directing the syndicate's activities.

The woman faces a handful of charges, including identity theft and participating in the cartel.

The other two men face similar charges.

NSW Police established Strike Force Bayard in 2021 to investigate a series of dodgy transactions and payments across Sydney.

The investigation continues despite Thursday's arrests.

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