Senior legislation agency associate is arrested after being accused of facilitating $25million value of fraud for one of many greatest alleged cash laundering syndicates EVER
A senior law firm partner has been charged after allegedly facilitating more than $25million worth of fraud for one of the biggest money laundering syndicates in the country.
Elic Tang, 32, was arrested at his western Sydney home on Tuesday morning.
Tang is listed as the sole director at Sydney law firm Rosemont Partners Ltd, according to Australian Securities and Investments Commission records.
He is accused of laundering money for the Penthouse Syndicate and helping purchase more than $25million worth of property for them.
The syndicate is alleged to be one of the biggest fraud and money laundering groups in the country’s history.
The alleged ringleader Bing Li was arrested in a penthouse apartment at the Crown Towers Sydney in Barangaroo in July 2025.
On its website, Rosemont Partners describes itself as a ‘multidisciplinary boutique law firm’.
Tang was charged with participating in a criminal group, six counts of dishonestly obtaining financial advantage by deception and five counts of knowingly dealing with the proceeds of crime.
Elic Tang, 32, was arrested at his western Sydney home on Tuesday morning
Tang worked at Sydney law firm Rosemont Partners
On its website, Rosemont Partners describes itself as a ‘multidisciplinary boutique law firm’
The arrest signifies a huge win for detectives investigating the alleged syndicate.
Tang is the first solicitor to be charged as part of the Strike Force Myddleton investigation.
The Penthouse Syndicate has been accused of defrauding major banks and financiers of more than $250million, of which $150 was allegedly taken from NAB.
Police have been investigating employees at NAB for allegedly facilitating home and business loans.
The NAB employees are suspected of accepting bribes from syndicate members to approve bogus loan applications.
Court documents revealed a senior banking manager at NAB allegedly advised Li and other alleged syndicate members which documents to provide in order to secure loans, the Sydney Morning Herald reported.
The loans, including a $2million mortgage application and a business loan of almost $500,000, was then allegedly approved by the manager.
more to come
