Two women charged over alleged $70 million fortune teller scam after police raid Dover Heights home

Two women have been charged with allegedly scamming members of Sydney’s Vietnamese community out of nearly $70 million.

Police allege one of the women claimed she was a master of feng shui — also known as Chinese geomancy — and a fortune teller.

“The older woman ... allegedly exploited vulnerable clients within the Vietnamese community by persuading them to take out financial loans — while taking a share herself — based on her prediction that there was a ‘billionaire’ in their future,” NSW Police said.

The women, aged 53 and 25, were arrested during a raid at a home in Dover Heights in Sydney’s Eastern Suburbs about 6am on Wednesday.

Police allege the elder woman orchestrated the fraud, 

The 53-year-old was charged with 39 offences and refused bail.

The alleged offences are knowingly direct activities of criminal group, 19 counts of dishonestly obtain financial advantage by deception, 13 counts of knowingly deal with proceeds of crime intent to conceal, five counts of deal with identity info to commit an indictable offence and two counts of attempt to dishonestly obtain financial advantage by deception.

She will face Downing Centre Local Court on Thursday.

The younger woman was charged with two counts each of dishonestly obtain financial advantage by deception and deal with identity information to commit an indictable offence and single counts of recklessly deal proceeds general crime intend to conceal, recklessly deal with proceeds of crime in excess of $5000 and participate criminal group contribute criminal activity.

She was granted conditional bail to appear before Downing Centre Local Court on January 23.

The raids were carried out by officers from the Raptor Squad and Strike Force Myddleton.

A neighbour told 7NEWS there were “lots of screams” coming from the home during the raid.

Officers allegedly seized financial documents, mobile phones, other electronics, luxury handbags, a 40g gold bar worth $10,000 and $6600 in casino chips.

The NSW Crime Commission also froze $15 million worth of assets linked to the pair.

“Recovering assets is not just about punishment — it’s about restoring confidence and returning value to the people of NSW,” Crime Commission executive director Darren Bennett said.

“Our role is to ensure that crime does not pay. Every dollar we recover is a dollar that won’t fund further criminal activity and can instead be redirected to benefit the community.”