Five men arrested over multi-million dollar email scam targeting businesses

Police have made five further arrests in Sydney as part of an ongoing investigation into an alleged $4.7 million email scam syndicate targeting businesses.

In September 2019, detectives started to investigate a criminal syndicate targeting businesses across the country through email scams.

Inquiries revealed altered invoices had been sent to legitimate businesses for payment through an email scam, before the funds were transferred into personal accounts.

So far during the investigation, eight people have been charged and remain before the courts.

READ MORE: Scammers use greed and romance to siphon off $11 million

Today at 8am police executed three search warrants at homes at Chester Hill, Schofields and Roselands.

During the searches, detectives seized mobile phones, computers, electronic storage devices and documents. All the items will undergo forensic examination.

A 21-year-old man was arrested at Chester Hill and later charged with participate in criminal group contribute to criminal activity, seven counts of knowingly deal with proceeds of crime intent to conceal, and knowingly deal with proceeds of crime.

Police will allege in court the man was involved in the scam syndicate and dealt with proceeds of crime to the value of more than $1.8 million. He was refused bail to appear in court later today.

A 36-year-old man was arrested at Liverpool and charged with participate in criminal group contribute to criminal activity and two counts of knowingly deal with proceeds of crime.

Police will allege that the man was involved in the scam syndicate and dealt with proceeds of crime to the value of more than $338,000. He was refused bail to appear at court later today.

Two men – aged 19 and 21 – were arrested at the Roselands home and a 25-year-old man was arrested at Schofields.

READ MORE: Warning of tax return email scam

All three remain in custody and charges are expected later today.

Investigations into the scams are continuing.

Anyone with information is urged to contact Crime Stoppers: 1800 333 000 or NSW Crime Stoppers.