 "Superstition, scam and scandal: How 53-year-old ‘fortune teller’ conned Australians out of millions")
A self-proclaimed fortune teller from Sydney is at the centre of one of Australia’s biggest alleged fraud cases, a staggering $70 million scam built on superstition, deceit, and a luxury lifestyle.
Police say Anya Phan, who presented herself as a feng shui master, along with her daughter, manipulated vulnerable victims with promises of future wealth and “a billionaire” waiting in their destiny.
Over the years, small frauds spiralled into a massive network involving fake identities, casino laundering, and high-end property deals across Sydney.
Here’s how the elaborate scam unfolded, and how authorities finally caught up with the so-called “fortune teller.”
How did the scam work?
According to investigators, Phan exploited clients by persuading them to take out financial loans, keeping a share for herself, based on a prediction that there was a “billionaire” in their future.
Working alongside her 25-year-old daughter, Phan allegedly built an empire of fraud, one that preyed on financially vulnerable people desperate for a better future.
“The 53-year-old has claimed to be a feng shui master and fortune-teller who convinced vulnerable people to become mules in the criminal syndicate,” Detective Superintendent Gordon Arbinja, head of the financial crimes squad, said. “Each time she convinced these people to do these loans, she would pocket at least $150,000 herself.”
Early Wednesday morning, police raided the pair’s lavish Dover Heights mansion in Sydney’s east and arrested them both. During the operation, officers seized financial documents, luxury handbags, electronics, mobile phones, casino chips worth $6,600, and even a 40-gram gold bar valued at $10,000.
Authorities also froze $15 million worth of assets linked to the scam, according to the NSW Crime Commission.
Police said the victims, many of whom were struggling financially, were persuaded to take out loans on behalf of the syndicate, often without understanding the full risk. Some of these “mules” have now been arrested for their role in the operation.
Investigators believe Phan worked under the direction of the syndicate’s alleged ringleader, 38-year-old Bing “Michael” Li from Shanghai. Li was arrested in July at his $18 million Crown Barangaroo penthouse, from where he allegedly coordinated the operation.
Phan’s own home, a $12.9 million Dover Heights property, boasted four bedrooms, an indoor cinema, a gym, a steam room, a pool, a private lift, and stunning harbour views, all reportedly purchased through a mortgage with NAB.
“She has not worked during this time,” Arbinja said. “The repayments on the Dover Heights address alone were $56,000 a month, yet she was receiving disability support payments for over 20 years and was a VIP customer at a Sydney-based casino.”
Investigators allege Phan laundered more than $520,000 in just two months at the casino, making her a regular high roller. On one occasion, she allegedly moved $45,000 in only three hours. Police say she also persuaded her daughter to purchase a $5.3 million apartment in Rose Bay.
Also read: Authorities are trying to crack down on scammers in Southeast Asia. Here’s why it’s not working
What’s next?
Phan now faces 39 criminal charges, including directing the activities of a criminal group, 19 counts of obtaining a financial advantage by deception, and 13 counts of dealing with the proceeds of crime. She has been denied bail and will appear before the Downing Centre Local Court.
Her daughter, meanwhile, was granted conditional bail after being charged with multiple offences, including two counts of obtaining a financial advantage by deception. She will return to court in January next year.
Police target crime syndicate
The fortune teller’s arrest was part of a wider investigation into a sophisticated financial crime syndicate initially linked to a car financing scam. Authorities had discovered that stolen personal details were being used to apply for fraudulent loans to purchase luxury “ghost cars” that never existed.
As the investigation deepened, police uncovered evidence pointing to a much larger operation involving fake home, personal, and business loans, with ties to banks and financial firms across the country.
“What began as an investigation into fraudulent car financing has expanded into uncovering one of the most sophisticated financial crime syndicates I’ve seen in my career,” Arbinja said.
He confirmed that nearly half the suspected members of the syndicate have already been arrested, but added that “many more people” are under investigation.
“We’re going after professional facilitators — lawyers, accountants, property developers,” Arbinja said, warning that the group’s fake property deals may have even inflated real estate prices in Sydney’s eastern suburbs.
As authorities continue to untangle the network’s money trail, investigators believe they are only beginning to scratch the surface of one of Australia’s most elaborate financial scams.
With input from agencies
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