Stunning $70 Million Scam — Mother-Daughter Duo Busted

A person with adorned hands hovering over a glowing crystal ball surrounded by candles

A fraudulent fortune teller operation exploits cultural trust, defrauding vulnerable Vietnamese clients of $70 million, revealing systemic vulnerabilities.

Story Highlights

53-year-old and her daughter arrested for a $70 million fraud scheme targeting Vietnamese community.
Scheme used false spiritual predictions to manipulate victims into taking out loans.
Investigation uncovered connections to a larger $250 million fraud syndicate.
Police seized luxury assets and froze $75 million in assets from the operation.

Arrests and Charges in Sydney

On November 12, 2025, police arrested a 53-year-old woman and her 25-year-old daughter at their Dover Heights property in Sydney. The arrests were part of an investigation into a $70 million fraud scheme targeting vulnerable members of Sydney’s Vietnamese community. The older woman, posing as a feng shui master, convinced victims to take loans, promising financial aid from a fictitious billionaire. The mother faces 39 charges, including directing a criminal group and dealing with proceeds of crime.

The daughter, charged with seven offences, including being part of a criminal group, was granted conditional bail. The operation, involving sophisticated manipulation of cultural beliefs, highlights systemic vulnerabilities in financial institutions. This case, linked to a broader $250 million fraud syndicate, reveals significant challenges in combating organized financial crime.

Financial Crimes and Community Impact

The scheme specifically targeted the Vietnamese community, exploiting financial desperation through spiritual manipulation. Victims were promised aid if they took out loans, with the perpetrators pocketing a substantial portion. The arrests and asset seizures were part of an operation by the Financial Crimes Squad, led by Detective Superintendent Gordon Arbinja. The investigation, initially focusing on fraudulent car financing, expanded to uncover a vast network of financial crimes.

Detective Arbinja emphasized the scale and sophistication of the syndicate, noting it as one of the most complex financial crime cases he has encountered. The investigation continues, with a focus on identifying professional facilitators within the syndicate, including lawyers and accountants.

Implications and Future Actions

The fraud highlights vulnerabilities in Australia’s financial system, necessitating reforms in identity verification and loan approval processes. The case underscores the need for community outreach and education to prevent similar exploitation. The involvement of professional facilitators suggests a need for stricter oversight in legal and financial professions. Law enforcement’s dedicated financial crimes task forces will likely see increased support and resources.

The financial and social repercussions of the fraud are significant, with victims facing financial ruin and potential liability for fraudulent loans. The case damages community trust and highlights the necessity of protecting vulnerable populations from financial exploitation.