Financial Crimes Squad detectives have charged two women accused of playing key roles in an elaborate multi-million-dollar fraud and money-laundering syndicate operating across Sydney.
The charges stem from Strike Force Myddleton, an investigation launched in January 2024 by the State Crime Command’s Financial Crimes Squad with support from the NSW Crime Commission. Detectives initially uncovered a scam involving stolen personal information used to secure loans for luxury “ghost cars” that never existed.
Financial Crimes Squad Commander Detective Superintendent Gordon Arbinja said Strike Force Myddleton has grown far beyond its original scope.
“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.”
Further inquiries revealed the scheme stretched far beyond car financing, allegedly involving large-scale personal, business and home loan fraud targeting multiple financial institutions. To date, 17 people have been charged and remain before the courts, while the Crime Commission has already restrained $60 million in assets.
Detectives later identified two women allegedly central to the syndicate. Police say the older woman, who claimed to be a feng shui master and fortune teller, exploited vulnerable members of Sydney’s Vietnamese community by urging them to take out loans based on her predictions of a “billionaire” in their future—taking a cut for herself. The fraud, allegedly orchestrated by her with help from the younger woman, is estimated at nearly $70 million.
Around 6am on Wednesday (12 November 2025), officers with assistance from Raptor Squad executed a search warrant at a Dover Heights home, arresting two women aged 53 and 25. Police seized financial documents, electronic devices, luxury handbags, a 40-gram gold bar valued at $10,000 and $6,600 in casino chips.
The NSW Crime Commission also froze an additional $15 million in assets, bringing the total value of restrained property linked to the syndicate to $75 million.
At Surry Hills Police Station, the 53-year-old woman was charged with 39 offences, including directing a criminal group, multiple counts of obtaining financial advantage by deception, dealing with proceeds of crime, and handling identity information. She was refused bail and was due to appear at Downing Centre Local Court today.
The 25-year-old woman was charged with dishonesty, identity and proceeds-of-crime offences. She was granted conditional bail and is set to appear at the Downing Centre on 23 January 2026.
NSW Crime Commission Executive Director Darren Bennett said asset recovery remains a priority.
“Recovering assets is not just about punishment – it’s about restoring confidence and returning value to the people of NSW,” he said.
“Every dollar we recover is a dollar that won’t fund further criminal activity.”
Anyone with information about organised crime is urged to contact Crime Stoppers on 1800 333 000 or via the Crime Stoppers website.
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