Dutch police have arrested multiple suspects linked to a large international investment fraud network that allegedly stole more than €100 million every month from victims across several countries. Authorities say the criminal organization operated with over 700 people working in around 20 call centers, where employees pretended to be professional financial advisers. Investigators believe the group has targeted tens of thousands of victims worldwide since at least 2021.
According to the investigation, the scammers contacted victims through phone calls and online platforms, gradually building trust over several weeks or even months. Once they gained confidence, they convinced victims to invest increasing amounts of money, often in cryptocurrency or online trading opportunities. The money was never invested, as the platforms were completely fake and designed only to steal funds from unsuspecting investors.
The main suspect is a 46-year-old man with both Israeli and Polish nationality. He was arrested on May 26 while traveling from Dubai to Poland and was later extradited to the Netherlands. Dutch authorities describe him as a well-known figure in the cybercrime world who is suspected of playing a major role in managing and supporting the criminal organization behind the large-scale fraud operation.
The fraud network reportedly operated like a legitimate business with structured teams handling different responsibilities. Some employees were responsible for contacting potential victims, while others guided them through fake investment platforms or handled financial transactions. Investigators believe the organization used professional and highly organized methods to deceive hundreds of people every day across multiple countries.
Police say the operation generated more than €100 million every month, making it one of the largest investment fraud schemes uncovered in Europe. In the Netherlands alone, investigators have linked around 550 reports to the network, while Belgium has recorded about 200 complaints. Dutch victims are estimated to have lost nearly €25 million, with many individuals losing more than €10,000 each.
Authorities also carried out additional arrests in Cyprus and Greece during July as part of the ongoing international investigation. The case involved close cooperation between law enforcement agencies from multiple countries, with support from Europol, helping investigators identify suspects and gather evidence against those involved in the fraud network. The investigation remains active as officials continue tracking other members of the organization.
As part of a prevention campaign, Dutch police launched Operation Sunflower, a public initiative aimed at identifying more suspects and discouraging others from joining similar criminal activities. The website currently lists around 700 pseudonyms used by alleged account managers, along with a countdown indicating when real identities may be published if suspects fail to cooperate with investigators.
Police have also warned people to be cautious of so-called fund recovery services that promise to recover money lost in investment scams. Investigators believe some of these recovery offers are operated by the same criminal networks that carried out the original fraud. Authorities advise investors to carefully verify investment opportunities, avoid platforms promising guaranteed returns, and report suspicious financial offers immediately to help prevent further victims.
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