Options embezzlement probe widens to Rabobank, more arrests

The investigation into last year’s €5.6m digital options trading fraud centred on ABN Amro has been expanded to cover Rabobank and the total damage is now put at €45m, television current affairs show Nieuwsuur reported on Tuesday evening.

Six people were arrested on Monday in connection with the fraud, on top of the 13 who were picked up last December.
The embezzlement focused on the time difference between buying and paying for options online. This allowed the gang to sell the options on again in the intervening period and hide the proceeds on foreign bank accounts, Nieuwsuur said.
Most of the money has now been recovered, the show said.
Five men and one woman were arrested on Monday. Police also seized sports cars, lorries and an outdoor whirlpool bath and placed a sequestration order for €900,000 on residential property.
Earlier stories
Gang embezzles €5.6m from unnamed bank

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