NSW: Three men arrested over car loan scam
15 Apr 2009 3:40 PM
EDS: Amends court information in second last par on updated police advice
SYDNEY, April 15 AAP - Three men have been charged over an alleged car loan scam police believe is linked to a major Sydney crime syndicate.
NSW Police set up Strike Force Beddek in December to investigate the scam, which involves loans taken out with financial institutions on vehicles with inflated prices.
Last Wednesday, detectives raided the house of an alleged leading syndicate member in Norton Street, Leichhardt, seizing a large number of documents, mobile phones, $26,000 in cash and a small quantity of anabolic steroids.
A 42-year-old man was arrested during a second simultaneous raid on a home in Mount Keira, near Wollongong.
Police allegedly seized 3kg of cannabis, 1kg of cannabis seeds, a Taser gun and almost $21,000 in cash in the raid.
He was charged with conspiracy to cheat and defraud, dealing with the proceeds of crime and participation in a criminal group.
A 35-year-old man from Castle Hill was also charged with conspiracy to cheat and defraud, and participation in a criminal group.
A week later, police said they'd arrested a third man during a vehicle stop in inner-city Potts Point.
The 28-year-old, picked up on Wednesday (EDS: today, April 15), was charged with conspiracy to cheat and defraud, and participation in a criminal group.
He was granted conditional police bail and is due to face Downing Centre Local Court on May 5.
Police say further arrests are expected.
