Two women stand accused of orchestrating a massive fraud scheme that allegedly swindled nearly $70 million from vulnerable members of Sydney's Vietnamese community through promises of fortune and favourable feng shui.
The Alleged Fortune Telling Scam
New South Wales Police have detailed an elaborate deception where a 53-year-old woman allegedly presented herself as a master of feng shui - the ancient Chinese practice of geomancy - and a fortune teller. The older woman allegedly exploited vulnerable clients within the Vietnamese community by persuading them to take out financial loans while taking a share herself, based on her prediction that there was a 'billionaire' in their future.
Police assert the elder woman masterminded the fraudulent operation with assistance from a 25-year-old woman, collectively obtaining an estimated $70 million from their victims.
Dawn Raids and Significant Seizures
The investigation culminated in early morning raids on Wednesday, with officers from the Raptor Squad and Strike Force Myddleton descending on a Dover Heights home in Sydney's Eastern Suburbs around 6am. A neighbour reported hearing "lots of screams" coming from the property during the police operation.
During the search, officers allegedly uncovered substantial evidence including financial documents, mobile phones, various electronics, and luxury handbags. More notably, police seized a 40-gram gold bar valued at approximately $10,000 and $6,600 in casino chips.
Multiple Charges and Asset Freezes
The 53-year-old woman faces 39 serious offences including knowingly directing activities of a criminal group, 19 counts of dishonestly obtaining financial advantage by deception, 13 counts of knowingly dealing with proceeds of crime with intent to conceal, five counts of dealing with identity information to commit an indictable offence, and two counts of attempting to dishonestly obtain financial advantage by deception.
She was refused bail and will face Downing Centre Local Court on Thursday.
The younger co-accused, aged 25, was charged with two counts each of dishonestly obtaining financial advantage by deception and dealing with identity information to commit an indictable offence. She also faces single counts of recklessly dealing with proceeds of general crime intending to conceal, recklessly dealing with proceeds of crime in excess of $5000, and participating in a criminal group contributing to criminal activity.
She was granted conditional bail and is scheduled to appear before Downing Centre Local Court on January 23.
In a significant development, the NSW Crime Commission has frozen $15 million worth of assets linked to the alleged scheme. Crime Commission executive director Darren Bennett emphasized that "recovering assets is not just about punishment - it's about restoring confidence and returning value to the people of NSW."
"Our role is to ensure that crime does not pay," Bennett stated. "Every dollar we recover is a dollar that won't fund further criminal activity and can instead be redirected to benefit the community."
