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Police allege fraudster got away with $3.7 million of mortgages

05 August 2014 3:54PM
New South Wales Police have charged a Sydney man with 25 fraud offences, including mortgage and equipment finance fraud. Police arrested the man last Thursday and issued a statement saying they would allege that he obtained 12 residential mortgage loans, with a combined value of A$3.7 million, through the use of false and forged documents.The arrest was made by detectives from the State Crime Command's Fraud and Cybercrime Squad, which has been running an investigation called Strike Force McMaster into mortgage and equipment finance fraud.Strike Force McMaster investigators have charged 21 people with 381 fraud offences worth a total of $36 million.The commander of the Fraud and Cybercrime Squad, Arthur Katsogiannis, said in a statement that Strike Force McMaster was an ongoing investigation and further arrests were expected.

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