Sydney accounting firm raided in major fraud investigation

Police have raided an accounting firm in Bankstown, Sydney, as part of a major fraud investigation involving an alleged multi-million dollar loan scam. The operation, known as Strike Force Myddleton, has resulted in charges against 33 people.

Authorities allege a criminal syndicate used stolen personal information to secure loans for luxury ‘ghost cars’ that did not exist. The investigation has since expanded into broader personal, business, and home loan fraud targeting financial institutions.

During the recent raid, detectives—supported by the NSW Crime Commission, the Australian Taxation Office, ASIC, and the Tax Practitioners Board—targeted the accounting firm. Police allege the firm’s director and staff used their professional positions to facilitate and approve fraudulent loan applications.

A 46-year-old director has been charged with directing a criminal group and making false documents in connection with approximately $16.2 million in fraudulent loans. Additionally, a 34-year-old accountant and a 28-year-old woman face charges related to fraudulent loans totaling $15.6 million and $14.5 million, respectively.