Investigators will allege the five were involved in a scheme using fake ID documents to submit loan applications for money to buy high-end cars which they then sold for profit.

Four luxury cars were seized during the six-month investigation, including an Audi RS7 valued at $219,880, a Toyota Landcruiser valued at $144,990, a Land Rover Defender valued at $159,990, and a Mercedes Benz C Class AMG valued at $98,000.

Police also carried out search warrants in Wollert, in Melbourne’s north, yesterday.

A 54-year-old Wollert woman was charged with obtaining financial advantage by deception, while a 28-year-old Wollert man was charged with dealing with the proceeds of crime.

They were bailed and will appear in court on February 3.

A 27-year-old man from Donnybrook was charged with dealing with the proceeds of crime and will be summonsed.

Previous search warrants were executed in Wollert on November 5 last year, Tullamarine and Craigieburn on November 15 last year, and Donnybrook on December 13 last year, police charged two people.

On January 1, a 26-year-old Wollert man and a 23-year-old Roxburgh Park man were both charged with obtaining financial advantage by deception.

They will appear in court on May 12.