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Police shut down credit card factory

AN UNDERGROUND credit card factory has been shut down in Sydney.

Two thousand blank credit cards and a machine capable of printing thousands more were seized by detectives in Ryde in the early hours of Thursday morning.

A 51-year-old man was arrested and charged with multiple fraud offences including dealing with the proceeds of crime worth more than $1million.

Police will allege the man headed a manufacturing and money laundering syndicate, specialising in identity theft and the production of fake credit cards and identification.

Along with the printing machine and cards, which had a potential value of $2500 each, police discovered 500 NSW drivers licences, $25,000 in cash, high-end accessories including designer watches and top shelf alcohol.

The man appeared in the Central Local Court on Thursday and was refused bail.
 
 



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