Investment fund bosses arrested in fraud investigation

1317207460|%B %e, %Y %H:%M %Z

The entire board of directors of an Amsterdam-based investment fund have been arrested in connection with a multi-million-euro fraud investigation.

The public prosecutor’s office (Openbare Ministerie) has been investigating the activities of Quality Investments, which resells American life insurance to investors in countries around Europe.

The company is not listed on the Amsterdam Stock Exchange (AEX), but claims on its website to be the pioneer of the “life settlements” market in the Netherlands.

Its clients were mainly wealthy individuals in Holland, Belgium and Spain.

Investigators are examining why millions of euros were spent around the world on real estate, expensive watches, cars, yachts and even an aeroplane.

The arrests took place in Turkey and Switzerland, as well as the Netherlands. Authorities in Spain, Turkey, Dubai, Britain, Switzerland and the US have been involved in the investigation.

Source: De Telegraaf: Miljoenenfraude beleggingsfonds
Photo by Deb Collins

Add your comment

Add a New Comment
Unless otherwise stated, the content of this page is licensed under Creative Commons Attribution-No Derivative Works 2.5 License.