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Luxury cars, cigarettes and $27,000 cash seized in scam bust

Published: (Updated: ) in Australian News by .

Four men were arrested and charged over a ploy in which they allegedly faked loan documents, bought high-end cars from legitimate dealers then on-sold them to unsuspecting victims.

Expensive cars, cigarettes, thousands of dollars in cash and Rolex watches have been seized in a luxury car scam bust.

Four men were arrested and charged over a ploy in which they allegedly faked loan documents, bought high-end cars from legitimate dealers then on-sold them to unsuspecting victims.

Police said the alleged criminal syndicate purchased and resold six luxury cars valued at more than $500,000.

luxury car bust

Raids across Sydney yesterday saw police search properties in Elizabeth Hills, Guildford, Old Guildford, Enfield, Five Dock, Prestons and Liverpool.

During the searches, officers seized three Lexus vehicles, about 50,000 illicit cigarettes, mobile phones, small quantities of methylamphetamine and cannabis, more than $27,000 cash and documentation, NSW Police said.

Four men – aged 32, 36, 48 and 62 – were arrested during the operation and charged.

Financial Crimes Squad Commander Detective Superintendent Linda Howlett said police will allege the men forged documents to obtain loans.

About 50,000 cigarettes were seized in raids across Sydney.

They then allegedly used these loans to buy expensive cars from "a number of legitimate dealerships all around Sydney", before selling the cars to "unsuspecting victims".

"If you've been offered a vehicle at a significantly reduced price, buyer beware," Detective Superintendent Howlett said.

"The motor vehicles have been seized and there is every likelihood the victims will not get the cars back."

She added the group was "highly organised" and said police are hoping to make further arrests.

Source: 9News https://www.9news.com.au/national/luxury-car-scam-lexus-cars-cash-and-cigarettes-seized-raids-sydney/b545f227-28d2-466f-981f-707563ea1f0c

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