Sydney property developer Jean Nassif's daughter has been granted bail after being charged with fraud offences after several police raids across the city yesterday.
Property and Construction lawyer Ashlyn Nassif, 27, arrived at Day Street Police Station yesterday afternoon after officers from the Organised Crime Squad raided four businesses — in the CBD and inner west — and, a home in Chiswick.
A police spokeswoman said the raids were part of an ongoing fraud investigation.
Officers arrested Ms Nassif at the station, and charged her with dishonestly obtaining a financial advantage by deception and publishing false or misleading material to obtain an advantage.
She spent last night behind bars and appeared at the Downing Centre Local Court today.
Ms Nassif, appearing via video link, looked emotional as she waved at her mother, sister and fiance in court while handcuffed and dressed in an orange tie dye shirt.
In court documents, it is alleged that Ms Nassif made and submitted false or misleading sales contracts in order to access a $150 million loan for the construction of three buildings in the Skyview development at Castle Hill.
The magistrate said the bail conditions were "not onerous" but "strict", including that she not contact her father, as well as 23 other people.
Ms Nassif also has to surrender her passport, live with her mother — who is divorced from Mr Nassif — and report daily to police.
A $2.6 million bond was also entered into, which the magistrate warned would be surrendered if Ms Nassif missed any court appearances.
The magistrate said "the offences are extremely serious in nature" adding this was because of the amount of money mentioned in the allegations and "the fact she's a legal practitioner of NSW".
The magistrate said it was alleged it was "a sophisticated and planned situation" — but referred to her good character as a lawyer of the Supreme Court of NSW and lack of criminal record in granting her bail.
The bail application was not opposed by the police prosecutor and her lawyer said she had "surrendered herself for arrest and has cooperated with police at all times".
A police source said there was no warrant for Mr Nassif's arrest and that he had not been charged or accused of wrongdoing in relation to the alleged fraud offence.
Ms Nassif is the owner of EA Legal in Sydney's CBD, a firm which specialises in construction, property, planning and litigation matters.
Last month Mr Nassif declined to appear at a NSW parliamentary inquiry into the Hills Shire Council, looking into allegations of impropriety made against members of the council and property developers in the area.
Mr Nassif said he was in a remote part of Lebanon at the time and denied any wrongdoing.
