Finance workers charged over luxury ‘ghost cars’ scheme
Two financial professionals have been charged in a multimillion-dollar fraud scheme that involved the purchase of non-existent luxury “ghost cars.”
Police have arrested and charged a 34-year-old man and a 35-year-old woman after breaking into their Sydney flat during a search on Tuesday morning.
Detectives allege the pair were part of a wider organization that used stolen personal information to fraudulently apply for loans through various finance companies to purchase fake luxury ghost cars.
Police have been investigating the syndicate since January 2024 and have since filed criminal charges against 25 people, which have been in the courts.
The syndicate’s reach extends beyond vehicle financing and is believed to be running large-scale personal, business and home loan fraud against numerous financial institutions, police said.
Police will allege the 34-year-old man charged on Tuesday worked as a business development manager.
He allegedly used his professional authority to assist the syndicate in purchasing more than $25 million worth of mortgaged properties and more than $6 million in commercial loans by facilitating and approving a series of fraudulent documents.
The man was charged with contributing to criminal activity and 19 counts of dishonestly gaining financial advantage by deception.
The 35-year-old woman was working as a financial broker who allegedly worked with the criminal organization and applied for approximately $13 million in loans from banks using forged documents.
He was charged with participating in a criminal group for the purpose of contributing to criminal activity, three counts of fraudulently obtaining financial advantage by fraud and attempting to fraudulently obtain financial advantage by fraud.
Detective Superintendent Gordon Arbinja said investigators were now entering a critical phase of the operation.
“Society expects financial institutions to be safe and reliable, and we will not hesitate to hold accountable anyone who abuses their position to pursue criminal interests,” he said.
The couple’s request to appear at Burwood local court on Wednesday was refused.
