Financial Crimes Squad detectives have charged two men for allegedly stealing more than $600,000 from an elderly man under Strike Force Borlase.
Strike Force Borlase was established in 2025 by State Crime Command's Financial Crimes Squad to investigate two men accused of convincing an 88-year-old man to grant them access to his online bank account and credit card.
Over the course of a year, the men allegedly spent more than $600,000 of the victim's money, including buying shares and transferring funds to themselves and others.
Following extensive inquiries, about 6.10am yesterday (Wednesday 1 July 2026) strike force detectives – with assistance from Southwest Metropolitan Regional Enforcement Squad – executed a search warrant at a unit in Yagoona.
Two men – aged 22 and 25 – were arrested and taken to Bankstown Police Station.
A 22-year-old man was charged with two counts of dishonestly obtaining financial advantage by deception and knowingly deal with proceeds of crime.
A 25-year-old man was charged with dishonestly obtaining financial advantage by deception, knowingly deal with proceeds of crime and fail to comply digital evidence access order direction.
They were both refused bail to appear at Liverpool Local Court today (Thursday 2 July 2026).
Financial Crimes Squad Commander, Detective Superintendent Gordon Arbinja said investigators acted swiftly once the suspicious activity was identified.
"This is an elderly man who relied on others for support, and instead he was allegedly exploited for financial gain. It's an appalling betrayal of a vulnerable member of our community," Det Supt Arbinja said.
"Our detectives worked meticulously to track the flow of funds and piece together the alleged offending. The charges laid today demonstrate our commitment to protecting vulnerable people and holding offenders to account.
"If you think a loved one is being manipulated or pressured into handing over money or access to accounts, please come forward. We would much rather check on something early than see another person lose their life savings."
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.
