Fifth person charged over alleged multimillion dollar 'ghost cars' fraud - Strike Force Myddleton
Thursday, 01 May 2025 08:12:47 AM
Financial Crimes Squad detectives have charged a fifth man for his alleged role in a multimillion-dollar financing fraud using ‘ghost cars’ to target a Sydney automotive group.
In January 2024, detectives attached to State Crime Command’s Financial Crimes Squad – with assistance from the NSW Crime Commission – launched an investigation into a criminal syndicate targeting Sydney automotive financing companies under Strike Force Myddleton.
The investigation found that the syndicate was allegedly using the stolen personal information of more than 33 people to apply for loans through various financial companies to purchase luxury ‘ghost cars’ that did not exist.
The total funds stolen through the alleged fraud are estimated to be $10 million.
Detectives have already charged four people for their alleged roles in the fraud who remain before the courts.
Following further inquiries, about 6am yesterday (Wednesday 30 April 2025), strike force detectives – with assistance from Raptor Squad and Australian Border Force – executed a search warrant at a home in Burwood.
During the search, strike force detectives located and seized over $12,000 in cash and electronic devices.
Following the search, a 39-year-old man was arrested and taken to Burwood Police Station, where he was charged with seven counts of recklessly deal with proceeds of crime more than $5,000 and three counts of recklessly deal proceeds general crime intend to conceal.
Detectives will allege in court the man received over $700,000 in fraudulent funds which he assisted in laundering through is personal bank accounts.
The man was granted strict conditional bail to appear before Burwood Local Court on Tuesday 20 May 2025.
Throughout the joint investigation, the NSW Crime Commission has restrained $18 million dollars of assets belonging to the alleged syndicate.
Investigations under Strike Force Myddleton continue.