Four arrested in €200m international investment fraud

Four Dutch nationals have been arrested in an international investigation into investment fraud, the public prosecution department said on Wednesday.


The operation involved raids on 27 locations in the Netherlands, Spain, Turkey, Switzerland, Dubai, England and the US. Houses, luxury cars, watches, boats and an aircraft have been seized as part of the investigation.
The four were behind Netherlands-based investment company Qualify Investments. One was arrested in Switzerland, one in Turkey and two in the Netherlands.
QI company had not been licenced to operate by the financial services regulator AFM because the minimum investment was €50,000. Dutch law states that people with so much money to invest are professional investors who can determine themselves if a deal is trustworthy.
QI has been operational since 2007 and focused mainly on Dutch and Belgian investors. Investigators suspect as much as €200m has been invested in a complicated structure involving US life insurance policies

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