Detectives have arrested and charged a Sydney woman as part of an ongoing multi-million dollar mortgage fraud investigation.

Strike Force Apia was formed by State Crime Command’s Fraud Squad detectives in September 2007 to examine cases of complex, large-scale fraud.

 As a result of inquiries, a 37-year-old woman was arrested at Newtown Police Station this morning (Thursday 4 August 2011).

 She was charged with dishonestly obtain property by deception (three counts) and conditionally bailed to appear in Central Local Court on Tuesday 30 August 2011.

 The alleged offences relate to the fraudulent financing of luxury motor cars and a motor cruiser, with a combined value of just under $544,000.

 It will be alleged the Leichhardt woman is part of a wider, organised criminal syndicate involved in large-scale fraud within the finance industry.

 Strike force investigators have previously arrested and charged 17 people with more than 100 offences, relating to fraudulently obtained loans worth $16million.

 Through their inquiries, police have also prevented other fraudulent loan applications, totalling more than $55 million, from being processed.