Feng Shui Master and Daughter Arrested in Multi-Million Dollar Fraud Sting
Detectives in Sydney have charged a woman who presented herself as a feng shui master and fortune teller for her alleged role in a sprawling financial fraud scheme totalling an estimated $70 million. Anna Phan, 53, was arrested at her multi-million dollar Dover Heights mansion alongside her 25-year-old daughter, Thi Ta, in an early morning raid on Wednesday.
Police allege that Phan targeted vulnerable members of Sydney's Vietnamese community, convincing them to take out loans. She reportedly promised her clients that a 'billionaire' was in their future, while allegedly pocketing a share of the funds for herself, with the assistance of her daughter.
The Elaborate Web of the 'Penthouse Syndicate'
The arrests are a major development in an extensive investigation, dubbed Strike Force Myddleton, which began in January 2024. The probe initially focused on a syndicate using stolen identities to secure financing for non-existent luxury 'ghost cars'.
Investigations soon uncovered a much larger and more complex loan fraud operation across multiple financial institutions. Detectives now believe this group, known as the 'Penthouse Syndicate', is among the most sophisticated financial crime syndicates they have ever encountered.
The syndicate is accused of defrauding major banks, including the National Australia Bank (NAB) out of more than $150 million over two years. The total alleged fraud across all banks and financiers over a seven-year period is estimated to be a staggering $250 million.
The alleged ringleader, Bing 'Michael' Li, 38, from Shanghai, was arrested in July at an $18 million penthouse in Barangaroo, from where he is accused of directing the syndicate's activities. Police claim Phan was recruiting individuals, or 'mules', under Li's direction.
Luxury Assets Seized and Corrupt Banker Charged
During the raid on Phan's $12.9 million Dover Heights home, which boasts an indoor cinema, lift, and harbour views, police seized a trove of evidence. This included financial documents, mobile phones, electronics, luxury handbags, a 40-gram gold bar worth approximately $10,000, and $6,600 in casino chips.
The investigation has also led to the arrest of a allegedly corrupt banker. NAB senior business banking manager Timotius Donny Sungkar, 36, was charged last week after he allegedly facilitated around $10 million in fraudulent loans for the syndicate. Police claim he was paid $17,000 to approve loans linked to shell companies and remains in custody facing 19 charges.
To date, the operation has resulted in seventeen people being charged and $75 million in assets being restrained or frozen by the NSW Crime Commission, including the additional $15 million frozen this week.
Financial Crimes Squad Commander Detective Superintendent Gordon Arbinja stated, 'What began as an investigation into fraudulent car financing has expanded into uncovering one of the most sophisticated financial crime syndicates I have seen in my career. Our detectives have worked tirelessly to uncover a network that has not only targeted financial institutions but also manipulated vulnerable individuals for personal gain.'
Phan faces 39 charges, including knowingly directing a criminal group and multiple fraud counts. She was refused bail and is set to appear at Downing Centre Local Court. Her daughter, Thi Ta, faces charges including dishonestly obtaining financial advantage and was granted conditional bail to appear in court in January 2026.
