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They were arrested in Wentworth Point in the early hours of Tuesday, 26 May 2026.
Police will allege that the man, a former bank employee and business development manager, used his professional authority to help the syndicate acquire mortgaged properties worth more than $25 million and business loans worth more than $6 million by facilitating and approving fraudulent documents.
The woman, employed as a broker, allegedly worked with the criminal group and applied for almost $13 million in loans using fraudulent documentation.
Media reports have alleged that the woman arrested is 35-year-old Thu Huong Nguyen, who ran brokerage company HTN Finance Pty Ltd, while the man is allegedly 34-year-old Huy Tin Nguyen, a former National Australia Bank and Commonwealth Bank of Australia employee.
Identified by an anonymous source and confirmed by ASIC's Professional Register, Thu Huong Nguyen was a broker under Hai Money until her licence was ended on 5 December 2025.
Her licence ended the same day as Andrew Hu, who was charged at the end of last year with 89 offences in connection with the alleged Penthouse Syndicate fraud scheme..
Detectives attached to State Crime Command’s Financial Crimes Squad, with assistance from Raptor Squad, executed a search warrant at Wentworth Point and arrested the pair.
They were both refused bail and appeared at Burwood Local Court on Wednesday, 27 May 2026.
The man was charged with participating in a criminal group and contributing to a criminal activity, as well as 19 counts of dishonestly obtaining financial advantage by deception.
The woman was charged with participating in a criminal group, contributing to criminal activity, as well as three counts of dishonestly obtaining financial advantage by deception and attempting to dishonestly obtain financial advantage by deception.
The operation involved, Strike Force Myddleton, was established in January 2024 by State Crime Command’s Financial Crimes Squad, with assistance from the NSW Crime Commission, to investigate a criminal syndicate targeting Sydney automotive financing companies.
Police allege the group used stolen personal information to secure loans for luxury “ghost cars” that did not exist, before expanding into large-scale personal, business, and home loan fraud.
To date, 25 people have been charged under Strike Force Myddleton, and the NSW Crime Commission has restrained $95 million in assets.
Commander of the Financial Crimes Squad, Detective Superintendent Gordon Arbinja, said investigators were now entering a critical phase of the operation.
“Strike Force Myddleton has reached a significant midpoint in its investigations, and our focus is now shifting toward professional facilitators – the bankers, brokers, lawyers and accountants who enable this type of offending,” Arbinja said.
“These corrupt insiders undermine the integrity of Australia’s lending system, and without their involvement, fraud on this scale simply wouldn’t be possible.
“The community expects financial institutions to be safe and trustworthy, and we will not hesitate to hold to account anyone who abuses their position for criminal gain.”
NSW Crime Commission executive director Darren Bennett said the NSWCC had worked alongside police throughout the investigation.
“The NSWCC has been with the police every step of the way identifying and seizing tainted assets and returning them to the people of New South Wales,” Bennett said.
“Today’s arrests are another positive outcome. We look forward to assisting the investigation through our unique capabilities until this matter is finalised. I congratulate the police on today’s arrests.”
[Related: How can brokers combat fraud?]
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