NSW Police seize luxury cars, wine, jewellery in alleged financing fraud operation
Detectives have charged two people and seized luxury cars and$200,000 worth of wine as part of an investigation into an alleged $10 million financing fraud.
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Detectives have charged two people and seized over $200,000 worth of wine as part of an investigation into an alleged $10 million financing fraud involving a Sydney automotive group.
A Tesla sedan, a Mercedes Benz van, multiple Rolex watches, large amounts of luxury jewellery and an estimated $200,000 worth of wine and other assorted alcohol were among the items seized by officers during the sting.
Detectives from the State Crime Command’s Financial Crimes Squad set up an investigation in January into a criminal syndicate targeting automotive financing companies under Strike Force Myddleton.
The investigation found that the syndicate was allegedly using the stolen personal information of over 33 people to apply for financing through various financial companies to purchase luxury cars that did not exist.
Inquiries led detectives to a home at Middleton Grange on May 15, where officers arrested a 31-year-old woman.
She was taken to Liverpool Police Station and charged with 102 counts of dishonestly obtaining financial advantage by deception and one count of possessing a prohibited drug.
She was granted strict conditional bail and appeared in Liverpool Local Court on May 22.
Following further investigations, strike force detectives and Raptor Squad officers searched a home in Carlingford and a warehouse unit in Alexandria just after 6am on Wednesday.
During the searches, detectives located the luxury cars, watches, jewellery and $200,000 worth of wine.
Police arrested a 40-year-old man at the Carlingford property and he was charged with three counts of recklessly dealing in the proceeds of general crime intending to conceal, participate in criminal group contribute criminal activity and recklessly deal with proceeds of crime greater than $5000.
The man was refused bail to appear before Burwood Local Court on Thursday.
Detectives will allege that the man, with the help of a woman employed at an automotive financing company, fraudulently secured $600,000 in financing, which he then attempted to launder through various bank accounts.
The woman is also accused of facilitating the acquisition of over 50 luxury vehicles worth $10 million between November 2022 and August 2023.
Detective Superintendent Gordon Arbinja said more arrests are coming.
“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.
“No one should receive a letter in the mail saying they owe tens of thousands of dollars for a car they have never seen.”
“I want to thank the businesses involved in this investigation for their outstanding cooperation. Thanks to them we have been able to prevent further innocent people from having their personal information caught up in this fraud, Det Supt Arbinja said.
Investigations under Strike Force Myddleton continue, and further arrests are expected.
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