A Sydney mother-daughter duo has been unmasked as the masterminds of a staggering multi-million-dollar fortune-telling scam, accused of exploiting fear, faith and financial desperation to drain millions from vulnerable victims while living a life of luxury.
Australian police have arrested a mother and daughter accused of running an elaborate fortune telling operation that allegedly defrauded vulnerable Vietnamese community members out of forty six million dollars. The pair, aged fifty three and twenty five, were taken into custody after officers raided their luxury residence in the Sydney suburb of Dover Heights. Investigators say the mother posed as a spiritual guide and feng shui specialist who convinced clients facing financial stress to take out large loans after promising that a wealthy benefactor would soon transform their lives. Police describe the operation as highly organised and claim the mother played a central role in directing the activities of a criminal group while using her position of trust to manipulate those seeking help.
During the arrests, officers seized financial documents, mobile phones, designer handbags, casino chips and a gold bar valued at ten thousand Australian dollars. The mother now faces thirty nine charges including obtaining financial advantage by deception and orchestrating the actions of a criminal organisation. Her daughter has been charged with seven offences related to dealing with the proceeds of crime and her involvement in the group. Authorities also froze an additional fifteen million dollars in assets, adding to the sixty million already restrained during a broader investigation that began last year. Police say the syndicate used stolen identities to secure loans for nonexistent luxury vehicles and to obtain personal, business and home loans through multiple financial institutions.
According to the Sydney Morning Herald, the duo are linked to a larger operation known as the Penthouse Syndicate, believed to have defrauded Australian banks of up to two hundred fifty million dollars. Investigators allege the criminal network relied on assistance from corrupt professionals including bank staff who approved fraudulent loans. More than a dozen suspects have been arrested so far, with police expecting further charges as they pursue lawyers, accountants and property developers believed to have facilitated the group’s activities.
