The scam involved a series of fake advertisements selling designer dogs for thousands of dollars each.
A man has been arrested over his role in allegedly scamming more than $91,000 from people looking to buy "designer puppies" before laundering the money through cryptocurrency, as part of a multinational crime syndicate.
Police arrested the 53-year-old at a unit on George Street in Sydney's CBD this morning following a year-long investigation into a series of fake advertisements selling puppies - mostly French and British bulldogs - for thousands of dollars each.
"We're talking somewhere in the vicinity of $2000 to $5000 per puppy," Detective Inspector Glenn Morfoot said.
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"They are highly-sought after and during the course of the recent pandemic there has been a high demand for puppies to its a target rich environment for these particular fraud."
"As far as we believe these dogs never existed."
Police will allege a multinational crime syndicate was behind the advertisements with the 53-year-old acting as a money mule receiving a total of $91,580 in deposits from 23 buyers directly into his bank accounts.
He then allegedly converted the money into cryptocurrency.
Investigations are ongoing to trace the money with police urging anyone with further information to come forward.
Anyone with information about this incident is urged to contact Crime Stoppers: 1800 333 000 or https://nsw.crimestoppers.com.au.
Source: 9News https://www.9news.com.au/national/sydney-arrested-over-alleged-role-in-91k-puppy-scam/79321945-bb17-4418-875c-adbae513f897