![The Adviser](https://res.cloudinary.com/momentum-media-group-pty-ltd/image/upload/c_fill,e_unsharp_mask:100,g_center,h_389,q_auto:best,w_798/v1657606059/The%20Adviser/basic/default_vvdbbx.webp)
A man has been charged with allegedly committing $3.7 million of mortgage fraud, with more arrests expected.
NSW Police announced on Friday that a 50-year-old Glenfield man had been charged with 12 counts of obtaining money by deception and 13 counts of using false instruments with intent.
“Police will allege the man obtained 12 residential mortgage loans, with a combined value of $3.7 million, through the use of false and forged documents,” NSW Police said.
His alleged offences are said to have occurred between 2003 and 2005.
The accused was arrested as part of Strike Force McMaster, which is investigating alleged mortgage and equipment finance fraud through the use of dummy companies and fake invoices.
Strike Force McMaster investigators have now charged 21 people with a total of 381 offences for frauds with a combined value in excess of $36 million, according to NSW Police.
Detective Superintendent Arthur Katsogiannis said Strike Force McMaster is an ongoing investigation and further arrests are expected.
“The officers conducting the investigation have done an excellent job thus far, gathering evidence to lay charges in what is a complex and difficult investigation,” he said.
“We will continue to investigate and locate those individuals involved and put them before the court.”
The man was granted bail to appear before Campbelltown Local Court on August 25.
[Related: Melbourne broker banned for $243,000 fraud]