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Luxury Watches and Jewellery: The Extravagant Life of an Alleged NAB Fraudster

Sungkar allegedly facilitated fraudulent loans for shell companies in a $150 million scheme by the Penthouse Syndicate to launder money and build a property portfolio, police say.

Summary by Sydney Morning Herald
A National Australia Bank employee has been arrested and charged with helping what is alleged to be one of the biggest fraud and money laundering syndicates in the country’s history defraud the finance giant of more than $150 million.

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Sydney bank worker charged over $10 million fraud for huge syndicate

Police allege the employee used his position to help the syndicate apply for business loans.

·Australia
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Sydney Morning HeraldSydney Morning Herald
+3 Reposted by 3 other sources
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Luxury watches and jewellery: The extravagant life of an alleged NAB fraudster

A National Australia Bank employee has been arrested and charged with helping what is alleged to be one of the biggest fraud and money laundering syndicates in the country’s history defraud the finance giant of more than $150 million.

·Sydney, Australia
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Sydney Morning Herald broke the news in Sydney, Australia on Thursday, November 6, 2025.
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