A 51-year-old Sydney man has been charged with over 30 offenses in connection with an alleged property investment scam that defrauded six victims of more than $650,000. New South Wales Police initiated an investigation in January 2026 after receiving a tip regarding the fraudulent scheme.
According to investigators, the man allegedly used counterfeit financial and legal documents to deceive victims between March 2023 and June 2026, ultimately obtaining $652,350. The alleged victims included three men and three women.
Investigators executed a search warrant on a unit located on Bayswater Road in Potts Point, an inner-east Sydney suburb, on Tuesday. Officers from the Central Metropolitan Region Operations Support Group ODIN reportedly assisted in the raid. During the search, police allegedly seized approximately 60 luxury watches and over 100 pieces of jewelry, with an estimated value exceeding $2.5 million.
The 51-year-old suspect was arrested at the scene and taken to Kings Cross Police Station. He faces 14 counts of dishonestly obtaining financial advantage by deception, 15 counts of using a false document to obtain financial advantage, and charges related to dealing with property proceeds of crime exceeding $100,000. He was refused bail and was scheduled to appear in court on Wednesday.