Two people have been charged and luxury items have been seized after an investigation into an alleged $10 million fraud plot in Sydney.
Investigators allege that a criminal syndicate was using the allegedly stolen personal information of more than 33 people to apply for loans for luxury cars that did not exist.
Police executed a search warrant at a home in Carlingford, in Sydney’s north-west, and a warehouse unit in Alexandria at 6am yesterday.
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They seized an estimated $200,000 of wine, a Tesla sedan, a Mercedes Benz van, multiple Rolex watches, and large amounts of luxury jewellery, including a Cartier ring.
A 40-year-old man was arrested before being taken to Gladesville Police Station.
He was charged with three counts of recklessly dealing with proceeds of general crime intending to conceal, participating in a criminal group contributing to criminal activity and recklessly dealing with the proceeds of crime greater than $5000.
He was refused bail to appear before Burwood Local Court today
A 31-year-old woman was arrested in May from a home in Middleton Grange following initial investigations into the alleged criminal syndicate.
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She was charged with 102 counts of dishonestly obtaining financial advantage by deception and one count of possessing a prohibited drug.
Detectives will allege that the man made several fraudulent applications through the woman, who was an employee at the automotive financing business that they allegedly exploited.
She allegedly approved $600,000 in financing, which the man allegedly attempted to launder through various bank accounts.
Police will further allege that the woman facilitated over 50 luxury vehicles between November 2022 and August 2023, worth a combined $10 million.
Detective Superintendent of the State Crime Command’s Financial Crime Squad Gordon Arbinja said more arrests would come in relation to the alleged fraud.
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“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,” 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.”
The woman appeared in Liverpool Local Court on May 22.
The man will appear in Burwood Local Court today.
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