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$4.5 MILLION SCAM: Finance firms hit with luxury car fraud
NSW Police has charged a Sydney man with more than 200 offences for his alleged involvement in a syndicate that ripped off financial institutions with luxury cars.
The charges came as a result of a two-year investigation into $4.5 million of frauds against finance firms.
The syndicate is accused of buying luxury vehicles using fraudulent finance applications, then selling them off at a profit both in NSW and interstate.
Police had recovered 18 cars including Mercedes Benz vehicles, Range Rovers, an Audi RS6, a GTS Holden Commodore, a Ford Ranger, and a Toyota Land Cruiser.
The police had previously charged four men, but the fifth man, a 34-year-old, remained a fugitive after repeatedly ramming a police car in September to avoid capture.
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The man was finally arrested last Friday at Greenacre in western Sydney, with police also seizing a Mercedes Benz C63 AMG in his garage.
The man was taken to Bankstown Police Station then faced Central Local Court on Wednesday over 210 charges.
Campbelltown Police Area Command detective chief inspector Greg Inger congratulated his team for shutting down the scam.
"We are committed to tracking down, arresting and charging anyone involved in fraudulent activity and encourage community members to help us find these criminals," he said.
Police is continuing its investigations.
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