Fourth man is arrested over alleged plot that used stolen personal information to apply for bogus car loans worth $10million
A fourth man has been arrested for his alleged role in a syndicate accused of using stolen personal information to apply for bogus car loans worth $10 million.
The 36-year-old man was arrested by Strike Force detectives at around 6am on Wednesday at a house in Lindfield, 13km northwest of Sydney’s CBD.
Jewelry and several luxury handbags from brands including Louis Vuitton and Chanel worth a total of $80,000 were also seized by police.
The man was charged with 19 counts of knowingly dealing with the proceeds of crime with 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 from more than 33 people to apply for loans from various financial institutions to purchase luxury cars that did not exist.
An estimated $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 are still in court.
The 36-year-old man (center) was arrested Wednesday morning at a home in Lindfield
Police seized $80,000 worth of luxury handbags (like the one in the photo) and jewelry
Police have already charged three people in connection with the alleged syndicate
The NSW Crime Commission has seized $18 million worth of the syndicate’s assets.
Executive Director Darren Bennett said efforts to find and contain criminal assets continue.
“The hard work for us has just begun as we look to return these criminal proceeds to the people of NSW and continue to work in parallel with the NSW Police,” he said.
Chief Inspector Gordon Arbinja, commander of the Financial Crimes Unit, said police were still hunting for other members of the syndicate.
“Our aim is to prevent any more businesses or members of the public from falling victim to these types of syndicates and to prevent these groups from continuing to profit from their crimes,” Det Supt Arbinja said.
“We will continue to prosecute this alleged criminal syndicate with the help of the NSW Crime Commission, and we will take them to court.”
The investigation, led by Strike Force Myddleton, continues.