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Wednesday, 3 August 2011

Alleged $3.7m fraud ring brains bailed

THE man police accused of orchestrating a $3.7 million fraud ring that allegedly involved a Hells Angel bikie boss has been granted bail.

Adam Eli Meyer, a husband and father, defrauded or attempted to defraud legitimate businesses of property, luxury cars, a yacht and excavation equipment, police allege.

Meyer, 37, appeared today in Sydney's Central Local Court charged with 12 fraud offences and with one count of dealing with the proceeds of crime.

A number of the offences allegedly involved Felix Lyle, the president of the Sydney chapter of the Hells Angels who has been in custody for two weeks.

Court documents show a string of alleged fraud offences spanning from September 2010 to early this year.

Police say he provided false business and tax documents from a dummy company, BRZ Investments Pty Ltd, in attempts to obtain financing to purchase high-value items.

Four Caterpillar excavators worth $940,000, a Regal Commodore yacht worth $325,000 and $1.2 million Alexandria property was on the wish list.

Other items included four Harley Davidson motorcycles, three Lexus, two Mercedes, two Toyotas and number of computers.

Meyer represented himself as John Formosa during the transactions and attempted transactions, police stated in the court documents.

He colluded with Lyle and Terence Reddy on a number of the alleged fraudulent activities.

"Police have established through covert means that Meyer, Reddy and Lyle have organised the submission of numerous loan applications which they knew to be false," the police statement of facts said.

"The accused persons organised systemic methods to screen third parties making inquiries on the information within the loan applications."

Police have also charged Roger Hassin, also known as Roger Morris, over a number of the alleged offences.

The late Natalie Laffy was listed as director of BRZ Investments and was ailing from terminal cancer at the time the offences took place.

The court documents did not specify what connection she had with the men.

When contacted today, a police spokesman declined to elaborate on Mrs Laffy, stating "more arrests are expected".

In court, Meyer's solicitor Paul Kenny said his client was prepared to comply with strict bail conditions and his parents would provide their houses as collateral.

Magistrate Julie Huber ordered Meyer to have one or two people provide $250,000 in surety in the form of cash or property.

He must surrender his passport, not leave NSW, not approach an international port of departure and not approach Reddy, Hassin or Lyle.

The matters for Meyer, Reddy and Hassin will come before Central Local Court on August 30.

Yesterday, Lyle was again unable to find an acceptable person to post a $100,000 surety in the form of cash to meet his bail conditions.


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