Surprise find in alleged fraud ring crackdown
Two people have been charged after police cracked an alleged $10m fraud ring targeting a Sydney automotive company, with officers seizing $200,000 worth of wine and alcohol and other luxury items during raids across the city.
NSW Police and the NSW Crime Commission earlier this year launched Strike Force Myddleton as they investigated an alleged criminal syndicate and a multimillion-dollar fraud targeting financing companies.
Police allege the syndicate used stolen personal information from more than 30 victims to make fraudulent applications for finance for luxury cars that did not exist.
After a long-running investigation, police swooped on a Middleton Grange home in western Sydney in May.
Detectives arrested a 31-year-old woman who is facing 102 counts of dishonestly obtaining a financial advantage by deception and one count of possessing a prohibited drug.
She was released on conditional bail.
Then after further investigations, police also raided a Carlingford property and Alexandria warehouse on Wednesday.
They seized $200,000 worth of wine and assorted alcohol, a Tesla sedan and Mercedes Benz van, Rolex watches and other luxury jewellery.
Detectives arrested a 40-year-old man at the Carlingford home before he was charged with a string of offences.
He was charged with multiple counts of recklessly dealing with the proceeds of crime and participating in a criminal group.
The 40-year-old was refused bail to appear before Burwood Local Court on Thursday.
Police allege the man made fraudulent financing applications through the 31-year-old woman.
It is alleged the woman used her position with the automotive financing business to approve financing up to the value of $600,000 that was then laundered through bank accounts.
Police allege the woman, over a 10-month period from late 2022 until August 2023, facilitated financing for 50 luxury vehicles worth an estimated $10m.
“We have several more targets allegedly involved in this criminal syndicate that we are interested in and want those victims of this syndicate to know more arrests are coming,” Detective Superintendent Gordon Arbinja said.
“No one should receive a letter in the mail saying they owe tens of thousands of dollars for a car they have never seen.”
Police say more arrests are expected and investigations are continuing.
