<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>A former banker and a former </span><a href="https://www.9news.com.au/finance" rel="" target="_blank" title="financial"><span>financial</span></a><span> broker have been charged over their alleged involvement in a $44 million </span><a href="https://www.9news.com.au/fraud" rel="" target="_blank" title="fraud"><span>fraud</span></a><span> and money laundering scheme.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The arrests come as investigations continue into a </span><a href="https://www.9news.com.au/sydney" rel="" target="_blank" title="Sydney"><span>Sydney</span></a><span>-based syndicate allegedly partaking in a massive fraud, where stolen personal information was used to apply for loans through financial companies to purchase luxury "ghost cars" that did not actually exist.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Police then found the syndicate allegedly orchestrated widespread personal, </span><a href="https://www.9news.com.au/business" rel="" target="_blank" title="business"><span>business</span></a><span>, and home loan fraud against financial institutions.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>JUST IN:</span></strong><span> </span><a href="https://www.9news.com.au/finance/australia-inflation-consumer-price-index-april-2026/c0beb0c1-47a9-4624-b392-6c718427449c" rel="" target="_blank" title=""><strong><span>Inflation cools in Australia as oil prices stabilise</span></strong></a><strong><span></span></strong></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Yesterday morning, Raptor Squad raided a home in Wentworth Point in Sydney's north-west, where a 34-year-old man and a 35-year-old woman were arrested.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>It is alleged the man worked as a business development manager to help the syndicate acquire mortgaged properties worth more than $25 million and business loans worth more than $6 million.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>He allegedly did this by helping create and approve fraudulent documents.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/two-charged-alleged-role-multi-million-sydney-fraud-scheme/c6f4c957-a20d-45c2-a6e9-e6626b114a3e" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The woman, in her role as a financial broker, allegedly applied for almost $13 million in loans from banks using fake documentation.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/newington-college-students-allegedly-attempt-steal-exam-papers-sydney/d790aef4-0611-4de8-9f5e-07a2d919aa9b" rel="" target="_blank" title=""><strong><span>Two students at prestigious private school allegedly tried to steal exam papers</span></strong></a><strong><span></span></strong></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The man was charged with participating in a criminal group and contributing to criminal activity and 19 counts of dishonestly obtaining financial advantage by deception.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The woman was hit with multiple charges, including participating in a criminal group and contributing to  criminal activity</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>They were both refused bail to appear at Burwood Local Court today.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Police have </span><a href="https://www.9news.com.au/national/sydney-man-charged-alleged-multi-million-dollar-fraud-scheme/3b226710-09c4-4e8b-9d6a-177adcc1869e" rel="" target="_blank" title="charged"><span>charged</span></a><span> 25 people in connection with the scam, and the </span><a href="https://www.9news.com.au/new-south-wales" rel="" target="_blank" title="NSW"><span>NSW</span></a><span> Crime Commission has restrained $95 million in assets.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>This includes a solicitor who was </span><a href="https://www.9news.com.au/national/sydney-crime-solicitor-charged-alleged-role-25-million-fraud/30aa7d6e-ea6b-4ead-97ff-754aa6fabf2e" rel="" target="_blank" title="charged"><span>charged</span></a><span> in March for allegedly laundering millions of dollars on behalf of the syndicate.</span></div></div>