Financial Crimes Squad detectives have charged a financial insider for his alleged role in a highly sophisticated multi-million-dollar fraud and money laundering syndicate operating across Sydney.
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 initially uncovered the syndicate was allegedly using stolen personal information to apply for loans through various financial companies to purchase luxury 'ghost cars' that did not exist.
Ongoing investigations revealed the syndicate's operations extended well beyond car financing fraud to large-scale personal, business and home loan fraud against multiple financial institutions.
Fifteen people have previously been charged under Strike Force Myddleton and remain before the courts, with the NSW Crime Commission having restrained $60 million in assets.
Following further inquiries, about 6am yesterday (Thursday 6 November 2025), strike force detectives – with assistance from North West Metropolitan Operational Support Group – arrested a 36-year-old man in Bonnyrigg.
During the search, police located and seized approximately $60,000 worth of luxury jewellery and watches.
The man was taken to Cabramatta Police Station, where he was charged with 19 offences including:
- Nine counts of dishonestly obtain financial advantage etc by deception
- Participate criminal group contribute criminal activity
- Recklessly deal with proceeds of crime <=$5000
- Two counts of deal with property proceeds of crime < $100000 & > $5000
- Four counts of possess/attempt to, anabolic or androgenic steroidal agent
- Two counts of possess/attempt to, prescribed restricted substance
He was refused bail to appear in Fairfield Local Court today (Friday 7 November 2025), where police will allege the man – using his position as a bank employee – assisted the syndicate in applying for approximately $10 million worth of business loans.
Anyone with information that may assist investigations into fraudulent activity urged to contact Crime Stoppers: 1800 333 000 or https://nsw.crimestoppers.com.au. Information is managed on a confidential basis. The public is reminded not to report information via NSW Police social media pages.
