Financial Crimes Squad detectives charge fourth person for alleged multimillion dollar fraud
Thursday, 07 November 2024 04:54:50 AM
A man will face a Sydney court today charged by Financial Crimes Squad detectives for his alleged role in $10 million financing fraud targeting a Sydney automotive group.
In January 2024, detectives attached to State Crime Command’s Financial Crimes Squad – with assistance from the NSW Crime Commission – launched an investigation into a criminal syndicate targeting Sydney automotive financing companies under Strike Force Myddleton.
The investigation found that the syndicate was allegedly using the stolen personal information of more than 33 people to apply for loans through various financial companies to purchase luxury cars that did not exist.
The total funds stolen through the alleged fraud are estimated to be $10 million.
Detectives have already charged three people for their alleged roles in the fraud who remain before the courts.
Following further inquiries, about 6am yesterday (Wednesday 6 November 2024), strike force detectives – with assistance from Raptor Squad and NSW Crime Commission – executed a search warrant in Lindfield.
During the search, strike force detectives located and seized multiple luxury handbags and jewellery valued at $80,000.
A 36-year-old man was arrested at the scene and taken to Chatswood Police Station, where he was charged with knowingly direct activities of criminal group and 19 counts of knowingly deal with proceeds of crime intent to conceal.
He was refused bail to appear in Hornsby Local Court today (Thursday 7 November 2024).
As a result of the joint investigation, the NSW Crime Commission has restrained $18 million dollars of assets belonging to the syndicate.
Detectives Superintendent Gordon Arbinja, Commander of Financial Crimes Squad, said detectives are continuing to close in on all the members of this syndicate and bring them before the courts.
“Detectives with the assistance of the NSW Crime Commission have continued to disrupt this alleged criminal syndicate preventing them from continuing to scam the NSW public.
“Our goal is to prevent any more businesses or members of the public falling victim to syndicates like this and prevent these groups from continuing to profit from their crimes,” Det Supt Arbinja said.
“We will continue to pursue this alleged criminal syndicate with the help of the NSW Crime Commission, and we will put them before the courts.”
NSW Crime Commission Executive Director, Darren Bennett, said the NSW Crime Commission will continue to uncover and restrain criminal assets and proceeds of crime linked to this syndicate.
“The NSW Crime Commission has already restrained $18 million in assets to date; however, as we continue to work with the NSW Police to tackle this syndicate, we fully expect to seize further proceeds of crime.
“The hard work for us has just begun as well as we endeavour to return these criminal proceeds to the people of NSW and continue to work parallel to the NSW Police in this investigation,” Mr Bennett said.
Investigations under Strike Force Myddleton continue.
Anyone with information that may assist investigators is urged to contact Crime Stoppers: 1800 333 000 or https://nsw.crimestoppers.com.au. Information is treated in strict confidence. The public is reminded not to report information via NSW Police social media pages.