HAARLEM - Six Dutch nationals suspected of committing fraud worth millions were arrested Tuesday. The police, working with the European Organization for Judicial Cooperation Eurojust, announced this on Wednesday. One person is still a fugitive. Three of the suspects were arrested in the Spanish cities of Madrid and Marbella. The others were arrested in Haarlem, Zandvoort and Lelystad.
The six, all between the ages of 40 and 59, allegedly made millions of euros through so-called boiler room fraud. Scammers then call victims and offer them nice investments. To gain the trust of the victims, they initially ask for a small amount of money. On fake websites with live exchange rates, victims then see their money quickly increase in value, persuading them to make larger investments. When people then want their money paid out, they can't.
Because these practices tend to take place from small, crowded rooms, it is called boiler room fraud.
According to police, 40 people fell for the Dutch suspects' trick. The duped allegedly invested a total of six million euros, but did not see a single euro back.
In raids Tuesday in Spain and the Netherlands, much evidence was found, according to Eurojust. Bank accounts and a vacation home were also seized.
