Six Suspects Arrested in Netherlands and Spain for EUR 6 Million Financial Fraud Scheme

4 March 2020, The Hague

Six individuals suspected of defrauding at least forty Dutch investors out of approximately EUR 6 million have been arrested. Dutch and Spanish authorities executed this operation with the active support of Eurojust.

Arrests and Location Searches

Three suspects were arrested in The Netherlands.
Three suspects were arrested in Spain.

During this coordinated operation, eight locations were searched, and several bank accounts were frozen.

“Boiler Rooms” and Persuasive Techniques

The suspects reportedly ran “boiler rooms,” which are alleged investment companies with a professional online presence. Their representatives used persuasive sales techniques to lure victims into investing high amounts, promising significant profits.

Agencies Involved

The Dutch Public Prosecutors Office (PPO) Oost-Nederland and Politie Oost-Nederland collaborated closely with the following agencies in Spain:

Spanish Central Investigating Court
Public Prosecutor at the National Court
Policia Nacional (UDEF unit)

Preparing for the Operation

Eurojust facilitated the exchange of information and evidence between law enforcement agencies to ensure a seamless operation. Eurojust provided coordination support by organizing a meeting in The Hague last September to prepare for the action.

Current Status

The arrested persons are currently under investigation for fraud and malpractice.

Image for illustrative purposes only.