Mother-and-Daughter Charged in $46M Australian Scam

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

A mother-and-daughter duo, one claiming to be a fortune teller and feng shui master, have been charged over allegedly scamming nearly A$70 million ($46m; £35m) from vulnerable Vietnamese victims in Australia.

The mother, 53, and her daughter, 25, were arrested at their luxury home in Dover Heights, Sydney, on Wednesday. Police say they were key figures in a highly sophisticated fraud and money laundering syndicate.

Authorities allege the mother persuaded victims to take out loans by promising them a “billionaire” would soon enter their lives, keeping a portion of the money herself. The mother faces 39 charges, including directing the activities of a criminal group and dishonestly obtaining financial advantage by deception. She was refused bail and is due to appear in court on Thursday.

Her daughter was charged with seven offences, including recklessly dealing with proceeds of crime and participating in a criminal group. She was granted bail with a court date set for January.

During the arrests, police seized financial documents, mobile phones, luxury handbags, a 40-gram gold bar valued at A$10,000 ($6,500; £5,000), and A$6,600 in casino chips. Authorities also froze approximately A$15 million in assets as part of the ongoing investigation, which follows A$60 million already seized from a wider probe.

Detective Superintendent Gordon Arbinja, commander of the Financial Crimes Squad, described the case as “one of the most sophisticated financial crime syndicates I have seen in my career.” Police allege the group conducted large-scale personal, business, and home loan fraud across multiple financial institutions.

The syndicate, dubbed the Penthouse Syndicate, allegedly defrauded major Australian banks of up to A$250 million, with some bank staff reportedly complicit in approving loans that allowed the group to acquire multiple Sydney properties.

The mother, described as an influential and trusted community figure, would give readings to clients, some of whom were in financial hardship. She allegedly told victims that taking out a loan would accelerate the arrival of their promised “billionaire,” prompting them to borrow large sums.

The investigation, launched under Strike Force Myddleton, initially targeted fraudulent car financing using “ghost cars”—luxury vehicles that did not exist—but quickly expanded into uncovering one of Australia’s largest financial crime syndicates.

More than a dozen people linked to the syndicate have already been arrested and charged with offences ranging from fraud to money laundering. Police indicate further arrests are expected, targeting “professional facilitators” of the group, including lawyers, accountants, and property developers.

As authorities continue to unravel the full extent of the syndicate’s operations, the case serves as a stark warning of the scale and sophistication of financial crimes targeting vulnerable communities in Australia.