Sydney man charged over $7m fraud

A Sydney man has been charged with 39 offences after allegedly being involved in a $7 million fraudulent home loan scheme.

Police said the 45-year-old obtained a number of fraudulent home loans, with the money used to buy units in a building in the Hunter region, at Nelson Bay.

It's alleged the offences totalled $7 million, and took place between June and August 2013.

The man, from Kellyville, was charged with the fraud offences on Friday.

He was bailed and is due to face Parramatta Local Court on April 1.