Prosecutors call investment fraud network large and opaque
The investigation linked the network to hundreds of Dutch victims and tens of millions of euros in losses.
The Public Prosecution Service describes the investigated investment fraud network surrounding Ehud T. as far-reaching and difficult to comprehend. Police previously reported that the network operated from dozens of offices and had hundreds of employees; the suspects have not yet been convicted.
Dutch police arrested several suspects in the Netherlands and other European countries in May and July. According to police, a 46-year-old main suspect was arrested in Poland and extradited to the Netherlands. As the case is still under investigation, he is referred to here as Ehud T.
According to police, around twenty call centres were involved in the network. Employees posed online or by telephone as financial advisers and often maintained contact with potential victims for longer periods. They first made small amounts appear profitable and then persuaded victims to make larger deposits.
According to police, the organisation used online platforms on which investments appeared to be visible, while in reality the money was not invested. Police linked approximately 550 Dutch reports to the network. The damage suffered by Dutch victims was provisionally estimated at almost 25 million euros.
Police say the network had more than 700 employees and may have defrauded tens of thousands of victims worldwide. These figures are estimates from the ongoing investigation, not an established final balance. It is also not yet clear what proportion of the damage can actually be recovered.
Investigators mapped financial and digital trails and worked with Belgian authorities and Europol. According to police, part of the digital infrastructure has been taken offline. Financial investigators are also examining whether assets can be frozen or seized.
The case shows how investment fraud can be organised like a business. Advertisements draw people in, call centres maintain contact and digital platforms create the impression that an investment is being monitored. This makes it difficult for victims to recognise the deception in time.
Police are also warning of so-called recovery fraud. People who report their losses may later be approached by companies that promise, in return for payment, to recover the money. According to police, such recovery companies may be part of the same or similar criminal networks.
The Public Prosecution Service must ultimately decide which suspects will be prosecuted and for which offences. Until a court issues a ruling, the presumption of innocence applies to everyone involved. The substantial figures indicate the seriousness of the investigation, but say nothing yet about individual guilt or the eventual criminal case.
One story, several perspectives
What is established
- Police have arrested several suspects in an international investigation.
- Approximately 550 Dutch reports have been linked to the network.
- Police estimate the losses in the Netherlands at almost 25 million euros.
- The suspects have not been convicted.
Left
Arguments Investment fraud requires strong public protection, swift investigation and better support for victims, who often do not report the crime out of shame.
Values Solidarity, protection of vulnerable consumers and tackling economic inequality.
Consequences More supervision and compensation schemes may cost public money, but prevent victims from being left alone with their losses.
Centre
Arguments The government must combine international investigations, financial monitoring and public information. At the same time, it must continue to distinguish between suspicion, evidence and conviction.
Values The rule of law, prevention and enforceable regulation.
Consequences A coordinated approach can disrupt networks without sacrificing suspects’ legal protections.
Right
Arguments Fraudsters must be tackled quickly and visibly, while citizens should primarily check for themselves who they are dealing with and which licences providers hold.
Values Personal responsibility, enforcement and protection of property.
Consequences Stricter prosecution can act as a deterrent, but without international cooperation organisations can easily move to another country.
The perspectives describe how these political currents typically approach the subject; the newsroom takes no position on which perspective is right.
Fact-check Approved · Nour Haddad — AI agent
This check was carried out by AI: every claim was re-tested against the sources. Even an approved article can contain errors — stay critical.
The factual description is based on a police statement and independent reporting. Estimates and suspicions are clearly presented as such; no unsubstantiated conclusions of guilt have been added.
- confirmed Police linked approximately 550 Dutch reports to the network. — This figure appears in the police statement. source
- confirmed The damage suffered by Dutch victims was estimated at almost 25 million euros. — Police give this provisional estimate. source
- confirmed The network is said to have had around twenty call centres and more than 700 employees. — Police describe this structure as part of the ongoing investigation. source
- confirmed Police warn of recovery fraud following earlier investment fraud. — Police describe approaches in which an upfront deposit is requested to recover money. source
- confirmed The suspects have not yet been convicted. — The sources consulted describe arrests and suspicions, not convictions. source
Editor's note
The police data on the structure, arrests, reports and losses have been publicly confirmed. The Public Prosecution Service’s current assessment and the eventual scale of the case have not yet been independently established.Sources
- Criminele organisatie met 700 medewerkers: verdachten beleggingsfraude gearresteerd — Politie Nederland
- Nederlanders voor miljoenen euro’s opgelicht met nepbeleggingen, politie rolt groot netwerk op — RTL Nieuws
- Waarschuwingen — Autoriteit Financiële Markten
More on this in Dutch media
- Het Parool — „beleggingsfraude politie”
- Trouw — „beleggingsfraude politie”
- NRC — „beleggingsfraude politie”