Australian Chinese mother-daughter 'fortune tellers' arrested in alleged AUD$70 million fraud

Australian police have arrested a Chinese mother and daughter who allegedly posed as fortune tellers and feng shui masters to defraud members of the Vietnamese community of approximately AUD$70 million.

The 53-year-old woman, Anya Phan, and her 25-year-old daughter, Thi Ta, were taken into custody from their Dover Heights home in Sydney on Wednesday. Police described them as central figures in an "extremely sophisticated criminal network."

Authorities allege Phan presented herself as a fortune teller within the Vietnamese community, telling victims she could foresee their future becoming wealthy and persuading them to take out large bank loans from which she would take substantial cuts.

Phan faces 39 charges including directing a criminal group and dishonestly obtaining financial advantage by deception. She has been denied bail and appeared in court Thursday. Her daughter faces seven charges including participating in a criminal group and dealing with proceeds of crime.

During raids on their multi-million dollar property, police seized financial documents, mobile phones, luxury handbags, a 40-gram gold bar and AUD$6,600 in casino chips. Authorities have frozen AUD$15 million in assets connected to the pair.

The investigation has led to over a dozen arrests so far, with police indicating they will target lawyers, accountants and property developers who provided professional assistance to the alleged criminal network.