PLEASE NOTE: NSWPF-branded vision of arrests will be made available later today.
Financial Crimes Squad detectives have charged accountants and money mules for their alleged involvement in a multi-million dollar fraud and money laundering syndicate, bringing the total charged under Strike Force Myddleton to 33 people.
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.
The NSW Crime Commission has restrained $95 million in assets to date.
As part of ongoing inquiries, detectives identified an accounting firm director and two employees as well as two alleged money mules assisting the syndicate.
About 6am on Wednesday 2 September, strike force detectives – with assistance from Raptor Squad – executed search warrants in Smithfield and Cabramatta West.
Two women – aged 37 and 58 – were arrested and taken to Cabramatta Police Station.
The 37-year-old woman was charged with seventeen counts of knowingly deal with proceeds of crime and three counts of dishonestly obtain financial advantage by deception, allegedly relating to $5.3 million in fraudulent loans, participate criminal group contribute criminal activity and knowingly deal with proceeds of crime intent to conceal, totalling almost $1 million.
She was granted conditional bail to appear at Liverpool Local Court on Wednesday 14 October 2026.
The 58-year-old woman was charged with participate criminal group contribute criminal activity and three counts of dishonestly obtain financial advantage by deception, allegedly relating to almost $13 million in fraudulent loans.
She was granted conditional bail to appear at Fairfield Local Court on Wednesday 14 October 2026.
As inquiries progressed, detectives identified accountants that had worked closely with the alleged syndicate and allegedly exploited their positions to approve and facilitate fraudulent loan applications.
About 1pm yesterday (Wednesday 9 September 2027) strike force detectives – with assistance from NSW Crime Commission, Australian Taxation Office (ATO), Australian Securities and Investments Commission (ASIC) and the Tax Practitioners Board (TPG) – executed a search warrant at an accounting firm in Bankstown.
Three employees – including the firm's director and two accountants – were arrested and taken to Bankstown Police Station.
A 46-year-old man was charged with knowingly direct activities of criminal group, seventeen counts of make false document to obtain financial advantage allegedly in relation to $16.2 million in fraudulent loans, four counts of make/alter/fail to make accounting document with intention conceal benefit, dishonestly obtain financial advantage by deception, nine counts of knowingly deal with proceeds of crime and hinder discovery evidence regarding serious indictable offence.
The 34-year-old man was charged with participate criminal group contribute criminal activity, seventeen counts of make false document to obtain financial advantage allegedly in relation to $15.6 million in fraudulent loans, four counts of make/alter/fail to make accounting document with intention conceal benefit and dishonestly obtain financial advantage by deception.
Both men were refused bail to appear at Bankstown Local Court today (Thursday 10 September 2026).
A 28-year-old woman was charged with participate criminal group contribute criminal activity, seventeen counts of make false document to obtain financial advantage allegedly in relation to $14.5 million in fraudulent loans and four counts of make/alter/fail to make accounting document with intention conceal benefit.
She was granted conditional bail to appear at Bankstown Local Court on Thursday 8 October 2026.
Commander of the Financial Crimes Squad, Detective Superintendent Gordon Arbinja, said these arrests reflect the ongoing and methodical work of Strike Force Myddleton.
"The alleged conduct uncovered during this phase of the investigation shows a deliberate and coordinated effort to exploit loan systems, misuse personal information, and conceal the proceeds of crime through professional channels," Det Supt Arbinja said.
"These arrests demonstrate the sophistication of the syndicate and the lengths it allegedly went to obtain fraudulent loans and launder millions of dollars.
"Our investigators, supported by partner agencies, will continue to pursue every individual who plays a role in facilitating organised financial crime."
NSW Crime Commission Executive Director Darren Bennett said:
"Today's arrest is another positive result for the collaborative approach to this investigation. The Crime Commission will commence the detailed work to identify and seize assets. We again congratulate the State Crime Command Financial Crime Squad for their ongoing success in SF Myddelton."
ATO Deputy Commissioner Pennie Snowden said:
"Professional facilitators who assist others to commit financial crime undermine confidence in Australia's tax and superannuation systems and create an unfair advantage over the vast majority of taxpayers and advisers who do the right thing.
"The ATO is committed to identifying and addressing these behaviours wherever they occur. We work closely with law enforcement, regulators and industry partners to detect serious non-compliance and hold people accountable.
"If you've participated in mortgage fraud, false income declarations or related tax avoidance arrangements, now is the time to review your affairs. The ATO encourages voluntary disclosure before compliance action commences. The Community can help us stop suspected tax crime by making an anonymous tip-off online or calling 1800 060 062."
Tax Practitioners Board (TPB) Chair, Peter de Cure AM, said:
"Tax practitioners play a vital role in Australia's tax and superannuation systems. The TPB works closely with law enforcement and partner agencies to address serious misconduct and protect the integrity of the tax system.
"Any agent found to be involved in the facilitation of fraud or other criminal activity can expect the TPB to take strong regulatory action. In appropriate cases that can include removal from the tax profession."
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.
