Latest news with #ghostcar
The Australian
6 days ago
- The Australian
NSW Police arrest two more in alleged $53m ‘ghost car' fraud scheme
Two more alleged fraudsters have been arrested over a 'highly sophisticated' fraud and money laundering syndicate operating across Sydney to the tune of approximately $53m. NSW Police began investigating the luxury 'ghost car' loan fraud scheme in January 2024 but now say the alleged scam ran much wider into large-scale personal, business and home loan fraud. Eight people had previously been charged over the scheme and remain before the courts, with the NSW Crime Commission having previously restrained $38 million in assets. However, on Monday, two more people were arrested in Gladesville – a 60-year-old man and 61-year-old woman. The man was charged with five counts of dishonestly obtain financial advantage etc by deception and participate criminal group contribute criminal activity. The woman was charged with two counts of dishonestly obtain financial advantage etc by deception and participate criminal group contribute criminal activity. The pair were granted conditional bail to appear in Burwood Local Court on 29 September. Police will allege in court the pair committed fraud to the value of nearly $15.5 million. On Monday evening, an additional two luxury cars were seized by police, a 2019 silver Lexus LX570 and a 2021 black McLaren 720s, with a combined value of $682,000, allegedly linked to the syndicate. A luxury car seized in a 'highly sophisticated' fraud and money laundering syndicate operating across Sydney. Picture: NSW Police. One of the accused ringleaders was hauled out of a Crown Casino suite wearing a $6000 Louis Vuitton bomber jacket last week. Picture: NSW Police Vision supplied by NSW Police showed the sleek black McLaren being towed on an otherwise quiet Sydney street. The haul brings the total amount seized to date as approximately $53 million in luxury goods and real estate. The investigation initially uncovered the syndicate was allegedly using stolen personal information to apply for loans through various financial companies to purchase luxury 'ghost cars' that did not exist. Last Wednesday, police raided 10 properties, seizing two Bentleys, a Ferrari 360, cash, a gun and two Tasers, body armour and drugs. Bing Li, one of two alleged ringleaders of the fraud scheme, was arrested at the Crown casino in Barangaroo last Thursday wearing a $6000 Louis Vuitton bomber jacket. The 38-year-old was charged with a long list of offences, including 87 counts of deception, forgery and proceeds of crime charges. Police will allege he is responsible for a $12.9m fraud. Mr Li will remain in custody on remand ahead of his next court appearance in September. Meanwhile, the second alleged ringleader, a 34-year-old man from Seaforth, faces 107 similar allegations. NSW police have charged two alleged ringleaders of a 'highly sophisticated' fraud and money laundering syndicate operating across the city. Picture: NSW Police Among the charges are 87 knowingly deal with proceeds of crime allegations, 19 counts of dishonestly obtaining financial advantage by deception, and one count of participating in a criminal group. He was denied bail, and police allege he has committed a $4m fraud. Financial Crimes Squad Commander, Detective Superintendent Gordon Arbinja, said the work of investigators is far from over. 'Strike Force Myddleton has uncovered a deeply entrenched and highly organised criminal enterprise operating across multiple financial sectors. While we've made significant progress, our work is far from over,' he said on Tuesday. 'The focus now shifts to identifying and dismantling the professional facilitators enabling this syndicate – particularly those operating within the accounting, financial services, and taxation industries. 'These individuals play a critical role in legitimising fraudulent activity, and we will continue to pursue them.' Investigations under Strike Force Myddleton continue. Rhiannon Lewin Court Reporter Rhiannon is a Sydney-based court reporter with NewsWire. Formerly the NSW Editor at she is now on the ground covering some of the state's most high-profile criminal cases. Rhiannon Lewin
News.com.au
6 days ago
- News.com.au
NSW Police arrest two more in alleged $53m ‘ghost car' fraud scheme
Two more alleged fraudsters have been arrested over a 'highly sophisticated' fraud and money laundering syndicate operating across Sydney to the tune of approximately $53m. NSW Police began investigating the luxury 'ghost car' loan fraud scheme in January 2024 but now say the alleged scam ran much wider into large-scale personal, business and home loan fraud. Eight people had previously been charged over the scheme and remain before the courts, with the NSW Crime Commission having previously restrained $38 million in assets. However, on Monday, two more people were arrested in Gladesville – a 60-year-old man and 61-year-old woman. The man was charged with five counts of dishonestly obtain financial advantage etc by deception and participate criminal group contribute criminal activity. The woman was charged with two counts of dishonestly obtain financial advantage etc by deception and participate criminal group contribute criminal activity. The pair were granted conditional bail to appear in Burwood Local Court on 29 September. Police will allege in court the pair committed fraud to the value of nearly $15.5 million. On Monday evening, an additional two luxury cars were seized by police, a 2019 silver Lexus LX570 and a 2021 black McLaren 720s, with a combined value of $682,000, allegedly linked to the syndicate. Vision supplied by NSW Police showed the sleek black McLaren being towed on an otherwise quiet Sydney street. The haul brings the total amount seized to date as approximately $53 million in luxury goods and real estate. The investigation initially uncovered the syndicate was allegedly using stolen personal information to apply for loans through various financial companies to purchase luxury 'ghost cars' that did not exist. Last Wednesday, police raided 10 properties, seizing two Bentleys, a Ferrari 360, cash, a gun and two Tasers, body armour and drugs. Bing Li, one of two alleged ringleaders of the fraud scheme, was arrested at the Crown casino in Barangaroo last Thursday wearing a $6000 Louis Vuitton bomber jacket. The 38-year-old was charged with a long list of offences, including 87 counts of deception, forgery and proceeds of crime charges. Police will allege he is responsible for a $12.9m fraud. Mr Li will remain in custody on remand ahead of his next court appearance in September. Meanwhile, the second alleged ringleader, a 34-year-old man from Seaforth, faces 107 similar allegations. Among the charges are 87 knowingly deal with proceeds of crime allegations, 19 counts of dishonestly obtaining financial advantage by deception, and one count of participating in a criminal group. He was denied bail, and police allege he has committed a $4m fraud. Financial Crimes Squad Commander, Detective Superintendent Gordon Arbinja, said the work of investigators is far from over. 'Strike Force Myddleton has uncovered a deeply entrenched and highly organised criminal enterprise operating across multiple financial sectors. While we've made significant progress, our work is far from over,' he said on Tuesday. 'The focus now shifts to identifying and dismantling the professional facilitators enabling this syndicate – particularly those operating within the accounting, financial services, and taxation industries. 'These individuals play a critical role in legitimising fraudulent activity, and we will continue to pursue them.'
Daily Mail
31-07-2025
- Daily Mail
Extraordinary moment heavily armed cops smash ghost car scam, seizing Bentleys, Ferraris, cash and Tasers - and march man dressed in $4,500 Louis Vuitton jacket out of his Barangaroo apartment
Dramatic footage has captured the moment a sophisticated alleged luxury 'ghost car' loan fraud syndicate was brought down in a major police operation across Sydney. Detectives allege the group used stolen personal details to fraudulently secure loans from multiple financial institutions to purchase luxury 'ghost cars' - vehicles that never existed. Investigations revealed the syndicate's alleged operations extended beyond car financing fraud to large-scale personal, business and home loan fraud against multiple financial institutions. Two men have been charged over the syndicate, following a string of early morning raids by heavily armed police from Strike Force Raptor across the city on Wednesday. One of the accused ringleaders, dressed in a Louis Vuitton bomber jacket valued at more than A$5400, was grilled by detectives before being escorted out of a Crown Sydney apartment in Barangaroo. He was later hit with dozens of serious charges. Police seized luxury cars, designer watches, Chanel jewellery, high-end handbags, drugs and cash in various currencies, a combined haul worth $38 million. Wednesday's raids alone netted $4.1 million worth of items, including two Bentleys, a Ferrari 360, A$20,000, US$12,100 and €1,070. A firearm, two Tasers and body armour were also seized during the raids. The NSW Crime Commission has frozen assets valued at $20 million. A 38-year-old man, arrested at Barangaroo and accused of committing $12.9 million in fraud, has been hit with 87 charges. These include 57 counts of dishonestly obtaining a financial advantage by deception, 14 counts of knowingly dealing with the proceeds of crime with intent to conceal, and four counts of using a false document to obtain a financial advantage. He also faces charges of knowingly directing the activities of a criminal group, recklessly dealing with the proceeds of general crime with intent to conceal, and possession of a prohibited drug. His co-accused ringleader, 34, was arrested in Seaforth on Sydney's northern beaches. He has been charged with 107 offences, including 87 counts of knowingly dealing with the proceeds of crime and 19 counts of dishonestly obtaining a financial advantage by deception. Both men were refused bail to appear in court on Thursday. A firearm, two tasers, and body armour (pictured) were also seized. Six people have previously been charged with these offences and remain before the courts. Investigators are scheduled to address the media about the alleged syndicate later on Thursday.
News.com.au
31-07-2025
- News.com.au
Police seize $38m of cash, cars and watches in ‘ghost car' fraud raids across Sydney
Cars, watches, cash and drugs to the tune of $38m have been seized or frozen by Sydney police as two alleged ringleaders of a massive fraud scheme were arrested on Wednesday. NSW Police began investigating a luxury 'ghost car' loan fraud scheme in January 2024, but now say the alleged scams run wider into large-scale personal, business and home loan fraud. In the early hours of Wednesday, police raided 10 properties, seizing two Bentleys, a Ferrari 360, cash, a gun and two tasers, body armour and drugs. Police alleged two ring leaders were arrested; one at a Barangaroo home, and another in Seaforth. The 38-year-old Barangaroo man faces 87 deception, forgery and proceeds of crime charges. He was refused bail and is expected to front the Downing Local Court on Thursday. Police will allege he is responsible for $12.9m of fraud. A 34-year-old man from Seaforth faces 107 similar allegations. He was denied bail, is expected in the Manly Local Court today and police allege he has committed $4m of fraud. 'Police will further allege in court the men were the ringleaders of the fraudulent scheme,' a police spokesperson said. Six people have already been arrested during this police investigation, which saw the NSW Crime Commission seizing or restraining $18m in assets. Police put Wednesday's haul at $20m, taking the total value of seizures to $38m. The investigation began at the start of 2024, when police uncovered an alleged syndicate targeting vehicle financing companies in Sydney. The syndicate was allegedly using stolen personal information to apply for loans through various companies, for 'luxury 'ghost cars' that did not exist', the police spokesperson said. 'Ongoing investigations revealed the syndicate's operations extended well beyond car financing fraud to large-scale personal, business and home loan fraud against multiple financial institutions.' From 5am on Wednesday, police kicked down doors across Barangaroo, Seaforth, North Ryde, Macquarie Park, Sylvania Waters, Camperdown, Mortdale, Haymarket, Martin Place and the Sydney CBD. During these 10 searches, police seized $4.1m of luxury items including two Bentleys, a Ferrari 360, $20,000 in Australian dollars, US$12,100 in USD, €1070, a firearm, two tasers, body armour, and a small quantity of prohibited drugs. The bulk of the Barangaroo man's 87 charges are dishonestly obtain financial advantage by deception allegations. The Seaforth man faces 87 knowingly deal with proceeds of crime allegations of, 19 counts of dishonestly obtaining financial advantage by deception, and one charge of participating in a criminal group.
