A self-proclaimed fortune teller and her assistant have been charged after allegedly scamming almost $70m from vulnerable clients in a highly sophisticated fraud and money-laundering syndicate.
A 53-year-old woman and her 25-year-old daughter were arrested in Dover Heights, Sydney on Wednesday, when specialist police raided their property.
The mother, who claimed to be a feng shui master and fortune teller, managed to convince her clients to take out loans by telling them she foresaw a “billionaire” in their future, while keeping a share for herself.
Police seized financial documents, mobile phones, other electronics, luxury handbags, a 40-gram gold bar worth $10,000 and $6600 in casino chips.
The NSW Crime Commission froze an additional $15 million worth of assets, bringing the total amount of assets linked to the syndicate to $75 million.
The woman was said to be an influential and trusted member of her community, with many of her clients telling her that they were experiencing financial hardship.
She was charged with 39 offences, including directing the activities of a criminal group and dishonestly obtaining financial advantage by deception.
Her daughter was charged with seven offences including dishonestly obtaining financial advantage by deception and being part of a criminal group.
Police launched an investigation under Strike Force Myddleton in January 2024 to investigate a criminal group allegedly using stolen identities to get loans for “ghost cars” that did not exist.
Further investigations revealed the large-scale personal, business and home loan fraud against multiple financial institutions
“What began as an investigation into fraudulent car financing has expanded into uncovering one of the most sophisticated financial crime syndicates I have seen in my career at the helm of the Financial Crimes Squad,” Financial Crimes Squad Commander Gordon Arbinja said.
More than a dozen people have since been arrested and charged with a range of offences including fraud and money laundering.
Police allege the 53-year-old woman is one of the heads of the Penthouse Syndicate, one of the largest fraud syndicates in Australia’s history.
She was refused bail and will appear in Downing Centre Local Court on Thursday, while her daughter was granted conditional bail to appear on January 23, 2026.
Image: NSW Police
