Hieu Trung Tran, Tram Tran: Burwood accountants allegedly defrauded $3.5m from client’s superannuation funds

Two siblings and former accountants allegedly fleeced $3.5m from clients across 13 years, with victims’ life savings transferred into more than 60 accounts.

Two Sydney accountants allegedly fleeced $3.5m from clients for more than a decade, with victim’s life savings transferred into more than 60 accounts.

A pair of Sydney siblings have been arrested after allegedly fleecing about $3.5m from the self-managed superannuation funds of more than 20 clients.

In February 2020, the State Crime Command’s Financial Crimes Squad established Strike Force Gulgin to investigate alleged fraud by accountants who established self-managed super funds for a number of clients.

Following inquiries, detectives arrested Hieu Tran, 44, at a home on Henley Marine Dr in Rodd Point about 8am on Wednesday, before transporting him to Burwood police station.

A short time later his sister, Tram Tran, 38, was arrested at her parents’ Bass Hill home and transported to Burwood police station.

Both were charged with 43 and 41 offences respectively, including obtain money by deception, dishonestly obtain financial advantage by deception, and possess false document to obtain financial advantage.

Burwood Local Court.

Police will allege in court the pair established self-managed super funds on behalf of more than 20 people, before allegedly misappropriating millions of dollars between 2007-2020.

Police further allege the funds were transferred between more than 60 bank accounts opened by the pair.

In court on Thursday, Hieu Tran did not apply for bail. The matter will return to court on March 28.

However, Ms Tran did make a bid for bail with her lawyer telling the court police were intending to tie her to her brother’s alleged offences.

“She’s been swept up in the investigation,” the lawyer said.

The court heard Ms Tran, who was no longer registered as an accountant, had known about the police investigation since 2019 and had never attempted to flee the country despite being aware police were building a case against her and her brother’s alleged fraud.

Her lawyer also said most of the alleged evidence related to Mr Tran who, alongside being her brother, was also her former employee at the time of the alleged offending.

“Almost everything that is said to have been done is said to have been done by (Mr Tran),” the defence said. “Employees are notorious for doing things under the nose of their employers that their employers have no idea about.”

The prosecution opposed bail stating it was a strong case and Ms Tran had both the means and abilities to acquire funds to flee the country because of her alleged frauds.

“This activity has been going on for a lengthy period of time … it is a significant fraud and it has been done sophistically,” the prosecution said.

Magistrate Vivien Swain refused Ms Tran’s bid for bail with the matter to return to court on May 18.

Following the siblings’ arrest, Financial Crimes Squad Commander detective superintendent Gordon Arbinja said “organised syndicates” use skills and business practices to generate further wealth for themselves and other criminal associates.

“A retirement fund is one of the biggest investments a person will make to secure their future,” he said. “Having a self-managed super fund requires a huge amount of time and skill to ensure compliance and protect their investment from fraud.

“Do your proper research and seek financial guidance from a licensed financial advisor with specialist knowledge in the field.”

ATO assistant commissioner Jade Hawkins said the agency took superannuation fraud very seriously.

“Fraud against self-managed superannuation funds can result in a person’s retirement savings being stolen and lost forever,” he said.

“Where the ATO detects these activities, we work with other government agencies to identify and take action against offenders.

“This activity is criminal, and we will hold offenders to account.”