Ferraris, Lamborghinis, McLaren seized in PBS fraud probe of Sydney pharmacist

7NEWS

27-05-2025

A collection of exotic vehicles has been seized from a New South Wales pharmacist who allegedly made false claims under the Pharmaceutical Benefits Scheme (PBS) for almost a decade.
A Criminal Assets Confiscation Taskforce (CACT) led by the Australian Federal Police (AFP) has seized more than $20 million in assets from the 58-year-old pharmacist, who is alleged to have made false claims between 2014 and 2023 with a value of more than $10 million.
Search warrants were executed by the AFP at the man's house in Dural, as well as a pharmacy in Cabramatta East, leading to charges being laid and the subsequent CACT investigation and asset seizure.
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The CACT says it 'restrained' a total of 12 vehicles: seven BMWs, two Ferraris, two Lamborghinis, and one McLaren.
Photos taken by AFP officers show a garage of late-model, high-end vehicles, as well as a Lexus SC430.
The BMWs include a 220i coupe, an M3 Competition sports sedan, and a 7 Series limousine, all current-generation models.
The lone McLaren is a 765LT with a distinctive black and red exterior, while the two Lamborghinis are an Aventador Ultimae and an Aventador SVJ, and the two Ferraris are a 488 GTB and a 488 Pista.
In addition to the vehicles, the CACT alleges the man's Dural mansion, East Cabramatta business, and various bank accounts 'do not seem to be accounted for by legitimate earnings'.
While the CACT litigates matters in courts, so-called 'restrained assets' are managed on behalf of the Commonwealth by the Australian Financial Security Authority (AFSA).
Should the CACT be successful in court, the AFSA will in turn liquidate the assets and the proceeds will go to the Commonwealth Confiscated Assets Account (CAA).
These funds are in turn reinvested in programs which support crime prevention, law enforcement, drug treatment, and diversionary measures related to drug use.
The pharmacist is currently bailed and will next appear before court on June 6, 2025.
He has been charged with:
Two counts of dealing in proceeds of crime worth $1 million or more, contrary to section 400.3(1) of the Criminal Code (Cth)
Two counts of dishonesty causing a loss to the Commonwealth, contrary to section 135.1(3) of the Criminal Code (Cth)
The maximum respective penalties for these offences are 25 years' imprisonment and 10 years' imprisonment.
The CACT explained the restraint of assets serves as a further deterrent to criminals.
'This approach ensures those who seek to exploit government benefit schemes for financial gain face not only legal consequences, but also the loss of the wealth they sought to accumulate through dishonest means,' said AFP CACT Commander Jason Kennedy.
'When law enforcement recovers illicit gains, it removes the incentive that fuels such crimes and sends a strong deterrent message to others.
'Offenders consider the confiscation of their assets to be as much, or more, of a punishment than a prison sentence, and removing the lure of financial exploitation from the equation shows that crime does not pay.'
The CACT sees the AFP collaborate with the Australian Criminal Intelligence Commission, the Australian Taxation Office, the Australian Transaction Reports and Analysis Centre, and the Australian Border Force.
Click an image to view a full gallery of images from the AFP.