The FIOD has arrested two men from Amsterdam and from Schagen (aged 55 and 48) for investment fraud. They are suspected of money laundering, scams and embezzlement. The administration, 20 bank accounts, 3 cars, a 500 gram gold bar, money, expensive watches and 6 paintings have been seized. The FIOD searched two homes, a business premises and a storage box in Amsterdam, Amstelveen and Schagen.
The research shows that two companies from the duo, Anglo Dutch Mining (ADM) and Royal Gold Mining (RGM), have probably received 2 million euros through the sale of depositary receipts for financing mining concessions. They had told investors to use that money for gold mines in Australia, Canada, Suriname and West Africa, but that didn’t happen. Presumably the investors’ investment was used by both suspects for private spending.
The criminal investigation started after a declaration from the Netherlands Authority for the Financial Markets. The FIOD calls on duped investors to report.