In the morning of 8 September, coordinated searches and witness hearings in Palma de Mallorca (Spain), the Netherlands, Sweden and Denmark took place to halt the activities of a criminal group committing large-scale investment fraud, causing damages amounting to over EUR 55 million to a large number of victims across Europe.
The action followed a complex, three-year-long investigation, which was led by the Public Prosecution Office (PPO) of Dresden and the State Office of Criminal Investigations of Saxony in Germany and coordinated through Eurojust.
Using a series of false websites, the criminal network deceived a large number of victims by selling false financial investment products, shares and bonds while never actually investing the money it received. A complex network of dummy companies and financial agents was set up across Europe to hide the origin of the payments and profits made.
Based on the large amount of documentation found, phones, electronic devices, further documents and money were seized. A number of suspect hearings and investigations will continue, likely resulting in further action by judiciary and police in the near future.
- Germany: PPO Dresden; State Office of Criminal Investigations of Saxony, Dresden
- Spain: Investigative Court no. 2 of Palma de Mallorca; PPO Balearic Islands, International Cooperation Section; Judicial Police (Guardia Civil)
- The Netherlands: PPO Office East-Netherlands; National Police (Regional Unit East-Netherlands)
- Sweden: National Public Prosecution Department, Unit against Organised Crime; Swedish Police, Centre of Fraud Investigation, Stockholm