Sydney Pair Accused of Running Multimillion-Dollar Scam

Published: 13 November 2025 | The English Chronicle Desk | The English Chronicle Online

Australian police have arrested a woman who claimed to be a fortune teller and feng shui master, along with her daughter, accusing the pair of running a multimillion-dollar scam that defrauded vulnerable Vietnamese victims. Authorities allege the duo were part of a highly organised criminal syndicate responsible for one of the country’s largest-ever financial fraud cases.

The 53-year-old mother was detained during a police raid at her luxurious Dover Heights home in Sydney on Wednesday, while her 25-year-old daughter was also taken into custody. Police claim the mother deceived her victims—many of whom were facing financial difficulties—by promising she could foresee a “billionaire benefactor” coming to their aid if they took out large loans. The mother allegedly kept a significant share of the money obtained through these fraudulent schemes.

She has been charged with 39 offences, including directing the activities of a criminal group and obtaining financial advantage by deception. Denied bail, she is due to appear in court on Thursday. Her daughter faces seven charges, including recklessly dealing with the proceeds of crime and participating in a criminal group. She was granted bail and will appear in court in January.

During the dramatic early-morning operation, officers from Strike Force Myddleton seized a trove of luxury items and financial evidence from the family’s multi-million-dollar mansion. Among the items confiscated were high-end handbags, mobile phones, financial documents, a 40-gram gold bar valued at A$10,000 (£5,000), and casino chips worth A$6,600.

Police have also frozen approximately A$15 million in assets linked to the suspects, adding to around A$60 million already seized during the wider investigation into the syndicate, which began last year. The criminal group is believed to have used stolen identities to obtain fraudulent loans for “ghost cars” – luxury vehicles that never existed.

Detective Superintendent Gordon Arbinja, commander of the Financial Crimes Squad, described the operation as “one of the most sophisticated financial crime syndicates I have seen in my career”. He said the syndicate was involved in large-scale personal, business, and property loan fraud targeting multiple Australian banks.

According to an investigation by the Sydney Morning Herald, the mother-and-daughter pair are connected to what police have dubbed the “Penthouse Syndicate”. The group’s alleged leader reportedly lived in an A$18 million luxury penthouse in Sydney. The syndicate is accused of defrauding major banks of up to A$250 million, with some corrupt bank employees allegedly approving false loans that enabled the group to acquire several high-value properties across the city.

So far, more than a dozen people have been arrested and charged with a variety of offences, including fraud and money laundering, as part of the sweeping investigation. Authorities believe this could be one of the largest and most complex financial crime cases ever uncovered in Australia.

Police said the 53-year-old suspect had built a reputation within the Vietnamese-Australian community as a spiritual adviser and fortune teller. Many of her clients confided in her about their financial struggles, and she would tell them that a wealthy individual was destined to appear in their lives. She allegedly convinced them that this fortune would arrive sooner if they followed her instructions to take out substantial loans.

Officers said more arrests are expected, particularly among “professional facilitators” suspected of helping the syndicate launder money and secure fraudulent loans. These include lawyers, accountants, and property developers believed to have knowingly supported the group’s operations.

Authorities have pledged to continue pursuing those behind the large-scale scam and are working closely with financial institutions to track stolen funds and recover assets.