A Sydney accounting firm director, two employees, and two others have been charged over their alleged involvement in a multi-million-dollar “ghost car” fraud scheme syndicate.
In January 2024, police launched an investigation into an alleged criminal syndicate targeting Sydney car financing companies.
Five people have been charged over their alleged involvement with a multi-million-dollar fraud scam in Sydney. NSW Police
The syndicate allegedly used stolen personal information to apply for loans through various financial companies to buy luxury “ghost cars” that did not exist.
Further investigation allegedly uncovered the syndicate also orchestrated large-scale personal, business, and home loan fraud against multiple financial institutions.
The NSW Crime Commission has restrained $95 million in assets to date.
At about 6am on Wednesday, September 2, police carried out search warrants in Sydney’s west.
Two women were arrested.
The 37-year-old was charged with multiple fraud offences relating to an alleged $5.3 million in fraudulent loans, and criminal group offences.
The 58-year-old woman with criminal group activities and fraud offences, allegedly relating to almost $13 million in fraudulent loans.
They were both bailed to appear in court on October 14.
Detectives identified accountants that had worked closely with the syndicate and allegedly exploited their positions to approve and facilitate fraudulent loan applications.
At about 1pm yesterday police executed a search warrant at an accounting firm in south-west Sydney.
There have been 33 people charged in the investigation so far. NSW Police
Three employees – including the firm’s director and two accountants – were arrested and taken to Bankstown Police Station.
One man was charged with directing a criminal group, dealing with the proceeds of crime, and multiple fraud offences.
Police alleged the accused were involved in multi-million-dollar fraud schemes. NSW Police
Another man was charged with participating in a criminal group and multiple fraud offences.
Both men were refused bail and will appear in court today.
A woman was charged with participating in a criminal group and multiple fraud offences.
She was bailed and will appear in court on October 8.
So far, 33 people have been charged as part of the investigation into the syndicate under Strike Force Myddleton.