Fraud and Cybercrime Squad detectives have this week arrested two men following a long-running investigation into banking fraud which has now resulted in hundreds of charges against 20 people, NSW Police say.
Strike Force Wilmot has been investigating the activities of an alleged criminal syndicate involved in banking fraud and identity crime throughout the Sydney metropolitan area.
That includes the creation of a fraudulent bank account in 2014 which was linked to a person’s legitimate share trading account.
Police will allege $560,000 was transferred out of the legitimate account with more than $130,000 withdrawn as cash at various Sydney financial institutions. The remainder was transferred to other bank accounts.
Following extensive investigations, Strike Force Wilmot detectives arrested a 21-year-old man at Eastwood Police Station on Tuesday 14 June 2016.
He was charged with nine counts of knowingly deal with the proceeds of crime and one count of participate in a criminal group.
He was granted conditional bail to appear at Burwood Local Court on Tuesday 12 July 2016.
A second man, aged 27, was arrested at a facility in Silverwater yesterday today and charged with three counts of participate in a criminal group, 15 counts of recklessly deal with the proceeds of crime and 10 counts of use false document.
He was refused bail to appear at Central Local Court today tomorrow.
Strike Force Wilmot detectives have now arrested and charged 20 people with 257 fraud-related offences.
Further arrests are expected.