Financial Crimes Squad detectives have charged two women for their alleged involvement 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.
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.
Investigations then revealed the syndicate's operations extended well beyond car financing fraud to large-scale personal, business and home loan fraud against multiple financial institutions.
Seventeen people have previously been charged under Strike Force Myddleton and remain before the courts, with the NSW Crime Commission having previously restrained $60 million in assets.
As part of ongoing inquiries, detectives allegedly identified two women intrinsically involved with the syndicate.
The older woman, claiming to be a feng shui master and fortune teller, allegedly exploited vulnerable clients within the Vietnamese community by persuading them to take out financial loans – while taking a share herself – based on her prediction that there was a "billionaire" in their future.
The fraud, allegedly orchestrated by the older woman with assistance from the younger woman, is estimated to total nearly $70 million.
About 6am yesterday (Wednesday 12 November 2025), strike force detectives – with assistance from Raptor Squad – executed a search warrant at an address in Dover Heights.
At the address, police arrested two women aged 53 and 25.
Police seized financial documents, mobile phones, other electronics, luxury handbags, a 40 gram gold bar worth $10,000 and $6,600 in casino chips.
The NSW Crime Commission froze an additional $15 million worth of assets, bring the total amount of assets linked to the syndicate seized to $75 million.
The women were taken to Surry Hills Police Station, where the older woman was charged with 39 offences, including knowingly direct activities of criminal group, 19 counts of dishonestly obtain financial advantage etc by deception, 13 counts of knowingly deal with proceeds of crime intent to conceal, five counts of deal with identity info to commit etc indictable offence, and two counts of attempt to dishonestly obtain financial advantage etc by deception.
She was refused bail to appear in Downing Centre Local Court today (Thursday 13 November 2025).
The younger woman was charged with two counts of dishonestly obtain financial advantage etc by deception, two counts of deal with identity info to commit etc indictable offence, recklessly deal proceeds general crime intend to conceal, recklessly deal with proceeds of crime >$5000 and participate criminal group contribute criminal activity.
She was granted conditional bail to appear in Downing Centre Local Court on Friday 23 January 2026.
Commander of the Financial Crimes Squad, Detective Superintendent Gordon Arbinja, said Strike Force Myddleton has evolved significantly since its inception.
"What began as an investigation into fraudulent car financing has expanded into uncovering one of the most sophisticated financial crime syndicates I have seen in my career at the helm of the Financial Crimes Squad," Det Supt Arbinja said.
"Our detectives have worked tirelessly to uncover a network that has not only targeted financial institutions but also manipulated vulnerable individuals for personal gain."
NSW Crime Commission Executive Director Darren Bennett said restitution is a priority of the NSW Crime Commission.
"Recovering assets is not just about punishment – it's about restoring confidence and returning value to the people of NSW," Mr Bennett said.
"Our role is to ensure that crime does not pay. Every dollar we recover is a dollar that won't fund further criminal activity and can instead be redirected to benefit the community."
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.
