Police dismantle major investment fraud network

THE HAGUE – Dutch police have dismantled much of an international criminal network that allegedly earned more than €100 million a month through investment fraud. The organization, active since 2021, employed about 700 people operating from 20 offices in several countries.

The main suspect, a 46-year-old man, was arrested in Poland, while additional suspects were detained in Belgium, Cyprus and Greece.

Investigators say the group posed as financial advisers to gain victims' trust, showing fake investment profits while never investing any of the money.

Police estimate that tens of thousands of people worldwide were defrauded, with Dutch victims alone losing an estimated €25 million. Authorities also warned the public not to trust companies claiming they can recover lost investment funds, as many may be linked to the same criminal network.