Man charged over $11m fraud: police

A Sydney man is facing 156 charges over fraudulent loan applications worth more than $11 million.

Police will allege the 40-year-old Merrylands man stood to gain $11 million from allegedly making the loan applications for office equipment that did not exist.

The man has become the 10th person to be charged by Strike Force McMaster, which is investigating a number of dummy companies in NSW.

Police said in a statement the man fronted Parramatta Police Station on Friday and was charged with 156 offences

The offences related to obtaining financial benefit by deception and dealing with proceeds of crime.

He was granted bail to appear in the Downing Centre Local Court on April 28.

Last month a 46-year-old Cronulla woman was arrested for her alleged involvement in the same scheme.

Strike Force McMaster have also charged a 39-year-old Leichhardt man with 152 fraud offences, worth about $5.4 million.