Authorities have accused a self-styled fortune teller and her daughter of being linked to a massive $70 million fraud in Sydney, suggesting ties to one of the most significant fraud operations in Australian history.

Yesterday, 53-year-old Anya Phan, who presented herself as a feng shui expert and fortune teller, along with her 25-year-old daughter, were taken into custody at her luxurious residence in Dover Heights, located in the city’s eastern suburbs.

Phan allegedly manipulated vulnerable individuals within Sydney’s Vietnamese community to commit fraud.

“Records reveal that she has laundered at least $520,000 in just two months at a Sydney casino,” stated Deputy Superintendent Gordon Arbinja, head of the NSW Police financial crimes unit.

“She is a prominent figure and holds considerable sway within her community,” he added.

Police will allege that she is one of the heads of the Penthouse Syndicate, one of the largest fraud syndicates in Australia’s history.

“What’s alarming in this one is now the syndicate has shifted,” Arbinja said.

“The syndicate is now preying on you, on vulnerable people that are trusted within their community.”

She allegedly persuaded victims to take out financial loans – while taking a share herself – based on her prediction that there was a “billionaire” in their future.

The fraud, allegedly orchestrated with the help of her daughter, is estimated to total nearly $70 million.

During the pair’s arrest, police also seized financial documents, mobile phones, other electronics, luxury handbags, a 40-gram gold bar worth $10,000 and $6600 in casino chips.

The NSW Crime Commission froze an additional $15 million worth of assets.

Phan has been charged with more than 40 offences, including dishonestly obtaining financial advantage by deception and dealing with the proceeds of crime.

She was refused bail to appear in court today.

The daughter was charged with offences including obtaining financial advantage by deception and dealing with the proceeds of crime.

“The younger woman was charged with two offences, mainly fraud in relation to the purchase of a $5.3 million apartment in Rose Bay,” Arbinja said.

She was granted conditional bail and is scheduled to appear in court tomorrow.

Arbinja said they came to the attention of Strike Force Myddleton detectives investigating a criminal syndicate targeting vehicle financing companies.

“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 at the helm of the Financial Crimes Squad,” he said.

Seventeen people have already been charged with links to the syndicate, with police saying there are more arrests to come.