Bank Insiders Involved in Alleged $178m Ponzi Scheme

Bentleys, Ferrari among $38m in assets seized as alleged fraudsters charged

Two Sydney men have been charged with almost 200 offences following a major fraud operation into a scam where luxury cars, homes and businesses were obtained.

Bank insiders involved in alleged $178m Ponzi scheme

The accused ringleaders of a large-scale fraud and money laundering scheme allegedly used stolen personal information to apply for home and business loans used to purchase non-existent luxury cars and defraud several financial institutions of almost $17 million.