'Goodbye Ferrari. Goodbye house. Goodbye life of luxury,' are the words Australian Federal Police used to taunt three alleged criminals on social media.

An online video posted by the Australian Federal Police, which has been viewed more than 100,000 times, shows officers launching a raid on a luxurious Melbourne property, as well as seizing a 2014 red Ferrari and more than $180,000 in cash.

Police allege the luxury property and car are just part of $8.5 million in assets that belong to three men suspected of taking part in a large scale fraudulent scheme that exploits overseas students.

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The AFP seized $8.5 million in assets, including a 2014 Ferrari at a luxury Melbourne property

The men, who have been identified as Baljit 'Bobby' Singh, Rakesh Kumar and Mukesh Sharma, are all directors of two registered training colleges in Melbourne.

The Colleges have been allegedly scamming international students by promising them qualifications, a working visa or permanent residency.

But instead students are charged up to $10,000 in fees and allegedly not provided with any education.

The AFP said that since their establishment, the two colleges have charged 'over $9 million in tuition fees from international students as well as fraudulently claiming approximately $2 million in government funding.'

The AFP will allege that assets including a red Ferrari were all proceeds of crime, gained by three men 'defrauding vulnerable individuals and government agencies'

The alleged scam, primarily targeted Indian students who were said to be sub-contracted to work at Australia Post and paid below the minimum wage for sorting and delivering packages, reported the ABC.

Australia Post has since launched a review into its handling of a the allegations of fraud made against Mr Sing delivery.

Australia Post Managing Director and CEO Ahmed Fahour said: 'Make no mistake, any allegation of inappropriate or illegal behaviour by contractors is entirely unacceptable to this organisation. We work with many principal contractors on a daily basis and we want within all reasonable means to make sure they adhere to relevant workplace laws.'

AFP seized more than $180,000 in cash said to proceeds of crime

Federal Police launched a raid on a luxury property in Melbourne

Police seized a 2014 red red Ferrari and more than $180,000 in cash

The raid, which is said to have occurred at Mr Singh's home, comes after a joint investigation by the Australian Federal Police, the Australian Border Force and the Australian Skills Quality Authority.

AFP Manager Crime Operations, Paul Osborne, said the success of this operation highlights the need for agencies to continue to work together to stop those individuals who believe they are above the law.

'In this case, the men involved have created an elaborate plan and defrauded millions of dollars in government funding and from students in vulnerable circumstances,' Commander Osborne said.

The raid which is said to be at Mr Baljit 'Bobby' Singh's home comes after a joint investigation by the Australian Federal Police

Police allege $8.5 million in assets are proceeds of crime

The seizure of $8.5 million worth of assets that is alleged to have been derived from the men's criminal activity includes six properties in the Melbourne suburbs of Balwyn, Lalor, Epping, Preston and Tarneit.

Baljit 'Bobby' Singh, 34, is said to be the head of the syndicate and appeared in Melbourne Magistrates Court on Thursday.

Mr Sing is charged with five criminal offences including defrauding the Commonwealth and falsifying documents including police checks and student records, in relation to two training colleges.