Financial Crime Squad detectives have charged a former banker and financial broker, allegedly involved in a multi-million-dollar fraud and money laundering syndicate under Strike Force Myddleton.
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.
Strike Force Myddleton 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.
Further investigations uncovered the syndicate's reach extended far beyond car financing, allegedly orchestrating large-scale personal, business, and home loan fraud against multiple financial institutions.
25 people have previously been charged under Strike Force Myddleton and remain before the courts, with the NSW Crime Commission having restrained $95 million in assets to date.
As part of ongoing inquiries, detectives identified a former bank employee and financial broker, were allegedly assisting the syndicate.
Police will allege the man – who worked as a business development manager – leveraged his professional authority to assist the syndicate in acquiring mortgaged properties worth more than $25 million and business loans worth more than more than $6 million, by facilitating and approving a series of fraudulent documents.
The female – employed as a financial broker – allegedly worked with the criminal group and applied for almost $13 million dollars in loans from banks using fraudulent documentation.
About 6am yesterday (Tuesday 26 May 2026) strike force detectives – with assistance from Raptor Squad – executed a search warrant in Wentworth Point.
A 34-year-old man and 35-year-old woman were arrested and taken to Auburn Police Station.
The man was charged with participate criminal group contribute criminal activity and 19 counts of dishonestly obtain financial advantage by deception.
The woman was charged with participate criminal group contribute criminal activity, three counts of dishonestly obtain financial advantage by deception and attempt to dishonestly obtain financial advantage by deception.
They were both refused bail to appear at Burwood Local Court today (Wednesday 27 May 2026).
Commander of the Financial Crimes Squad, Detective Superintendent Gordon Arbinja, said investigators are now entering a critical phase of the operation.
"Strike Force Myddleton has reached a significant midpoint in its investigations, and our focus is now shifting toward professional facilitators – the bankers, brokers, lawyers and accountants who enable this type of offending," Det Supt Arbinja said.
"These corrupt insiders undermine the integrity of Australia's lending system, and without their involvement, fraud on this scale simply wouldn't be possible."
"The community expects financial institutions to be safe and trustworthy, and we will not hesitate to hold to account anyone who abuses their position for criminal gain."
NSW Crime Commission Executive Director Darren Bennett said Strike Force Myddleton has been a long and protracted investigation by the State Crime Command Financial Crime Squad.
"The NSWCC has been with the police every step of the way identifying and seizing tainted assets and returning them to the people of New South Wales"
"Today's arrests are another positive outcome. We look forward to assisting the investigation through our unique capabilities until this matter is finalised. I congratulate the police on today's arrests.
Anyone with information that may assist investigations into organised criminal activity is 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.
