The ex-employee of a Sydney-based insurance company has been charged with allegedly obtaining more than $730,000 in fraudulent payments, NSW Police says.

In April last year detectives attached to Sydney City Police Area Command started investigations into “allegations of fraudulent activity against an insurance company”.

Police were told 239 fraudulent payments totalling $731,124 had been made by the now 32-year-old man between March 2019 and March last year.

“Investigations determined that fraudulent tax invoices from medical practitioners had been created and authorised, while further legitimate invoices had been altered for payment,” NSW Police said.

insuranceNEWS.com.au has made enquiries to try to establish the identity of the insurance company affected by the alleged fraud. Further articles will be published as more information comes to light.

Detectives arrested the man in Bathurst on December 21. He was taken to Bathurst Police Station and charged with making a false document to obtain financial advantage, knowingly dealing with proceeds of crime and dishonestly obtaining financial advantage by deception.

He has appeared at Downing Centre Local Court, with the case adjourned until April.