A former NAB employee has been charged over his alleged role in a “highly sophisticated” $200m bank fraud and money laundering syndicate – one that police allege is one of the biggest in Australia’s history.

Financial Crime Squad detectives on Thursday charged Timotius “Donny” Sungkar, 36, with offences related to his alleged use of his position as a bank employee to apply for $10m worth of business loans.

Footage of his arrest shows a handcuffed Mr Sungkar being led out of a property in Bonnyrigg, west of the Sydney CBD, early in the morning and into a waiting vehicle.

The arrest follows a near two-year investigation into an alleged criminal syndicate targeting Sydney automotive financing companies under Strike Force Myddleton.

An investigation by The Sydney Morning Herald alleges the

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