Two finance professionals have been charged over a multimillion-dollar fraud scheme involving the purchase of luxury "ghost cars" that did not exist.
Police arrested and charged a 34-year-old man and 35-year-old woman after forcing entry into their inner Sydney apartment during a search on Tuesday morning.
Detectives allege the pair were part of a wider syndicate that used stolen personal information to fraudulently apply for loans through various finance companies to purchase fake luxury ghost cars.
Police have been investigating the syndicate since January 2024, and have since charged 25 people, who remain before the courts.
It's believed the syndicate's reach however has extended beyond car financing, orchestrating large-scale personal, business, and home loan fraud against multiple financial institutions, police said.
