A self-proclaimed fortune teller and feng shui master, and another woman, have been charged over allegations they defrauded vulnerable members of Sydney’s Vietnamese community of nearly $70 million.
The arrests came under Strike Force Myddleton which has been investigating a criminal syndicate targeting automotive financing companies in Sydney.
Investigations initially found the syndicate was allegedly using stolen identities to secure loans for luxury "ghost cars" that didn’t exist. But NSW Police say their alleged operation runs deeper, extending to large-scale personal, business and home loan fraud.
Police early on Wednesday morning executed a search warrant at a property in Dover Heights in Sydney's east and arrested two women — aged 53 and 25 — who they allege are involved with the syndicate.
It is alleged the older woman, who claimed to be a feng shui master and fortune teller, exploited "vulnerable" members of Sydney's Vietnamese community by convincing them to take out loans, promising there was a "billionaire" in their future — and taking a cut herself.
Along with the arrests at the Dover Heights property, police also seized a number of items including luxury handbags and a gold bar worth $10,000. Source: Supplied / NSW Police
Police also confiscated financial documents, mobile phones, various electronic devices, luxury handbags, a 40-gram gold bar valued at $10,000, and $6,600 in casino chips.
The women were taken to Surry Hills Police Station where the older woman was charged with 39 offences, including knowingly directing the activities of a criminal group. She was refused bail to appear in the Downing Centre Local Court on Thursday.
The younger woman was also charged with various offences, including two counts of dishonestly obtaining a financial advantage by deception. She was granted conditional bail to appear in Downing Centre Local Court in January next year.
Meanwhile, the NSW Crime Commission has frozen $15 million worth of assets, bringing the total amount of assets linked to the syndicate seized to $75 million.
Commander of the Financial Crimes Squad, detective superintendent Gordon Arbinja, said: "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."
Seventeen people have already been charged under Strike Force Myddleton, with their matters still before the courts.
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