Investigation into international money laundering case

The Dutch Fiscal Intelligence and Investigation Service [FIOD] has arrested two main suspects in the Netherlands in a criminal investigation into laundering tens of millions of euros. The money originates from an international investment fraud, in which the two men, aged 33 and 40, allegedly play a role. Through the intermediary of a company named IB Capital FX LLP, registered in New Zealand, many millions of euros from investors who thought they were investing in forex trade have been channeled away via Dutch bank accounts to bank accounts of the suspects in and outside the Netherlands. The deceived investors seem to live mainly in Australia and the United States, although some investors are from the Netherlands.

After a report from the Dutch Financial Markets Authority [AFM] who in turn had been informed by the supervisory bodies in Australia and the United States in September 2012, the FIOD intervened quickly. This approach has prevented more money from being channelled away and new investors from being defrauded.

The investigation is still ongoing and is conducted under supervision of the socalled Functioneel Parket of the Dutch Public Prosecution Service. At this time, neither the exact amount of the financial loss nor the exact number of victims has been established.

On Tuesday 11 September, the FIOD arrested a 33 year old Dutch citizen in the city of Haarlem. He had already been convicted for investment fraud before. At this time, the suspect is still in custody. On 17 December during the first public hearing, the District Court in Haarlem extended the pre-trial detention of the 33 year old man until the 11th of February 2013. That day there will be another public hearing.

On Saturday 3 November, the 40 year old suspect was arrested in the Dutch city of Winterswijk. This suspect had also been convicted before on account of fraud. Mid November, the Haarlem Court extended the pre-trial detention of this suspect until February 2013.

In the meantime, the FIOD and the Public Prosecution Service have seized bank accounts in the Netherlands and abroad containing over 13 million euro. Rounding up the investigation will at least take another few months.

Bron: OM