The US Secret Service detected four Sydney men involved in an elaborate cyber scam

Four Sydney men — two of them arrested as they tried to flee to Hong Kong — were allegedly part of a sophisticated international fake investment scam which ripped off $US100 million.

Police say innocent investors who were conned into subscribing to a fake investment services. Picture: Supplied.

Four Sydney men have been charged over their alleged role in an sophisticated cyber investment scam detected by the US Secret Service.

More than US$100 million was fraudulently obtained from innocent investors who were conned into subscribing to a fake investment service.

Secret Service officers investigating the criminal syndicate, which was largely operated out of the United States, notified the Australian Federal Police (AFP) about possible links to Sydney, in August this year.

The AFP and NSW Police launched Operation Wickham to probe the scam, and later arrested four men who they will allege were operating the local arm of the syndicate.

Police allege the four people were used to register companies with the Australian Securities and Investments Commission (ASIC) and also set up bank accounts to launder the proceeds of crime.

The highly-sophisticated scam involved manipulating online trading platforms to show a false positive return on investments.

Two 19-year-old men, both Chinese nationals, were arrested at a residence in Pyrmont and later charged with one count each of recklessly dealing with proceeds of crime.

Two other men, aged 24 and 17, who police will allege were the ‘Australian controllers’ of the syndicate were arrested by AFP investigators at Sydney and Melbourne airports as they attempted to board flights to Hong Kong.

The men were each charged with one count of dealing in proceeds of crime.

AFP Cybercrime Operations Eastern Command Detective Sergeant Salam Zreika said people are falling victim to these types of cyber-enabled scams every day, and some had even lost their life savings.

“It is essential people exercise the utmost caution if cold-approached online or on the phone by people trying to sell financial or investment services. Criminals are ruthless and will stop at nothing to take your money,” she said.

All four men have been refused bail and will appear in court in January 2023.