A fourth man has been arrested for his alleged role in a syndicate accused of using stolen personal information to apply for fake car loans worth $10 million.
The 36-year-old man was arrested by Strike Force detectives at a house in Lindfield, 13 kilometers northwest of Sydney’s CBD, about 6am on Wednesday.
Police also confiscated jewelry and multiple luxury bags from brands such as Louis Vuitton and Chanel worth a total of $80,000.
The man was charged with 19 counts of knowingly dealing with the proceeds of crime with the intent to conceal and knowingly direct the activities of a criminal group.
He was refused bail and was due to appear at Hornsby Local Court on Thursday.
Police alleged that the syndicate stole information of more than 33 people to apply for loans from various financial institutions to buy luxury cars that did not exist.
It is estimated that $10 million was stolen in the alleged fraud.
Police have already charged three other people for their alleged role in the syndicate and their cases remain before the courts.
The 36-year-old man (center) was arrested at a home in Lindfield on Wednesday morning.
Police seized $80,000 worth of luxury bags (like the one in the photo) and jewelry.
Police have already charged three people in connection with the alleged syndicate
The New South Wales Crime Commission has seized assets belonging to the syndicate worth $18 million.
Chief executive Darren Bennett said efforts to find and restrain criminal assets were continuing.
“The hard work for us has just begun and we strive to return this criminal proceeds to the people of New South Wales and continue to work in parallel with the New South Wales Police,” he said.
Detective Superintendent Gordon Arbinja, commander of the Financial Crimes Squad, said police were still searching for other members of the syndicate.
“Our goal is to prevent more businesses or members of the public from falling victim to syndicates like this and to prevent these groups from continuing to benefit from their crimes,” said Det Supt Arbinja.
“We will continue to pursue this alleged criminal syndicate with the help of the NSW Crime Commission and bring them to court.”
Investigations under the direction of Strike Force Myddleton continue.
