Two women arrested in Sydney in alleged multimillion-dollar fraud targeting Vietnamese community
Australian authorities have arrested two women, aged 53 and 25, accused of defrauding vulnerable members of Sydney's Vietnamese community of more than $46 million. Officers executed a search warrant at a home in Dover Heights, an eastern cliffside suburb of Sydney, and detained the pair on Wednesday.
The New South Wales Police Force released footage showing the two suspects, faces blurred, being handcuffed and escorted into a police van. Detectives from the Financial Crimes Squad say the arrests are linked to a sophisticated fraud and money-laundering syndicate operating across Sydney.
How the alleged scheme worked
Investigators say the syndicate used stolen identification to apply for loans and to finance the purchase of cars that never existed. Authorities allege the older suspect, who presented herself as a feng shui master and fortune teller, convinced vulnerable clients that a 'billionaire' would enter their lives to persuade them to take out loans — from which she took a cut.
During the search of the Dover Heights residence, police seized financial documents, mobile phones, electronics, luxury handbags, a 40-gram gold bar valued at about $6,577 and $4,340 in casino chips, officials said. Including assets seized earlier, police say they have recovered nearly $50 million linked to the syndicate.
Det. Supt. Gordon Arbinja of the NSW Police Force said the inquiry 'has expanded into uncovering one of the most sophisticated financial crime syndicates I have seen in my career at the helm of the Financial Crimes Squad.'
Charges and court appearances
Both women were taken to Surry Hills Police Station. The 53-year-old was charged with 39 offences, refused bail and was due to appear in court on Thursday. The 25-year-old was charged with six offences and was granted conditional bail; she is scheduled to appear in court on Jan. 23.
Police emphasized the vulnerability of the victims and said the investigation remains ongoing as detectives trace additional assets and potential victims across Sydney.
