Fraud Police Up For Fraud

Sydney Morning Herald

Monday January 29, 2007

Geesche Jacobsen

TWO fraud squad detectives have been charged by the Police Integrity Commission with fraud involving an Oxford Street cafe and a fake home loan.

One of them, Detective Con Kostakidis, owns the Red Lounge Cafe close to Taylor Square, where he was seen yesterday.

The PIC alleges, according to the court attendance notices served on the two men a month ago, that Kostakidis falsely told the Commonwealth Bank that Aisha Ahmed was employed at the cafe. Ms Ahmed is believed to be a relative of Rafiq Ahmed, the second detective charged.

The PIC alleged this was done so the bank would grant Aisha and Rafiq Ahmed a home loan.

The two officers have been charged with obtaining a financial advantage - the home loan - by making a false statement to the bank. They are due to face court next month.

Investigations are continuing. A PIC spokeswoman yesterday said further charges were possible.

Corporate records show Kostakidis, 45, is also a shareholder in a mortgage business called Auslend Homeloans. He is also the director of one company, The Aegean Group, and in recent years has also been a director of a funeral business and an investment company.

The Herald reported last week that more than one in 10 police marine command officers have second jobs. The PIC is now auditing that command twice a year.

Kostakidis and Ahmed, who are part of the elite State Crime Command, have both been suspended from duty. The charges carry a maximum penalty of five years' jail.