A man working out of a wedding planning business is the first person to be charged by detectives investigating Compulsory Third Party (CTP) insurance fraud, NSW Police say.
In August 2016, detectives from the State Crime Command’s Fraud and Cybercrime Squad established Strike Force Ravens to investigate syndicates targeting the CTP insurance scheme following recommendations of the CTP Task Force.
The CTP Task Force is a NSW Government initiative coordinated by the State Insurance Regulatory Authority (SIRA), involving representatives from various government agencies and legal, health, and insurance sectors.
As part of ongoing investigations, Strike Force Ravens detectives executed two search warrants at a home and business in Liverpool about 9.30am today.
During the warrants, police seized a firearm, more than $100,000 cash, suspected proceeds of crime; gold bullion worth $30,000, electronic storage devices and documentation.
Following further inquiries, a 31-year-old man was arrested at another office in Liverpool and taken to Liverpool Police Station, where he was charged with 40 fraud-related offences.
Police will allege in court the man organised, coordinated, and facilitated fraudulent CTP insurance claims.
He was refused bail to appear at Liverpool Local Court tomorrow.
Fraud & Cybercrime Squad Commander, Detective Superintendent Arthur Katsogiannis, said yesterday’s arrest was just the beginning for Strike Force Ravens investigators.
“Detectives have already spent thousands of hours examining claim forms and documentation – a meticulous process – but there is still a lot more work to do,” Det Supt Katsogiannis said.
“We are determined to dismantle the business model and put every person who has knowingly played a part in defrauding the CTP scheme before the courts.
“Once again, I warn anyone involved in facilitating, submitting, or participating in fraudulent CTP insurance claims to expect a visit from detectives. We’ve knocked on one door, yours might be next,” Det Supt Katsogiannis said.
NSW Minister for Finance, Services and Property Victor Dominello said the arrest is a significant milestone and reinforces the importance of the Strike Force.
“Every NSW motorist is being stung by this illegal and unethical behaviour. Yesterday’s arrest is a powerful reminder of the NSW Government’s determination to bring these fraudsters to justice,” Mr Dominello said.
“Fraudsters have nowhere to hide and should be worried. They will be caught, arrested and prosecuted.”
Police are urging anyone with information in relation to CTP Green Slip fraud to call Crime Stoppers.