Fraud and Cybercrime Squad detectives have arrested and charged a 41-year-old man with fraud offences following a nine-year-investigation targeting organised mortgage fraud, NSW police said.
Strike Force Apia was formed in 2007 to examine cases of complex, large-scale mortgage frauds across NSW, and has resulted in the arrests of numerous people for various offences.
That includes the 41-year-old man who was arrested at Katoomba in the NSW Blue Mountains yesterday.
He was charged with use false instrument with intent and make false statement to obtain money. He was granted conditional bail to appear at Downing Centre Local Court on Monday 9 November 2015.
Police will allege the man assisted with the fraudulent application of a home loan for $460,000 using false documents.
It will be alleged he was part of a wider, organised syndicate involved in large-scale fraud within the finance industry.
Strike force investigators have previously arrested and charged 18 people with more than 100 offences, relating to fraudulently obtained loans worth $16 million.
Through their inquiries, police have also prevented other fraudulent loan applications, totalling more than $55 million, from being processed.