Five Arrested in Belgium-Netherlands Celebrity Ad Fraud Ring
Five suspects have been arrested in a coordinated international operation targeting a massive investment fraud ring that used fake celebrity advertisements to defraud over 200 victims across Belgium and the Netherlands. The total financial damage is estimated to run into tens of millions of euros, according to the West Flanders Public Prosecutor’s Office.
International Arrests
The arrests took place on July 7 and July 10, 2026, in Cyprus, Belgium, and Greece, under the authority of an investigating judge in Veurne, West Flanders. The suspects — two Belgians and three Dutch nationals aged between 27 and 45 — face charges of fraud, money laundering, and participation in a criminal organization, as reported by Het Laatste Nieuws.
Three suspects were arrested in Cyprus (one Belgian and two Dutch), one 27-year-old Belgian was taken into custody in Ieper, and a 44-year-old Dutch suspect was arrested in Athens, Greece. During the raid in Ieper, police also seized a luxury car belonging to the 27-year-old suspect.
How the Scam Worked
The criminal organization operated from a call center in Cyprus, using professionally crafted online advertisements featuring well-known Belgian and Dutch celebrities — including figures like Gert Verhulst, Karen Damen, and Fatma Taspinar — who appeared to endorse lucrative investment opportunities, De Morgen reported.
Victims who clicked on the ads and left their contact details were immediately contacted by fake “account managers.” Using specialized remote-access software, the scammers would take control of victims’ computers or smartphones, guide them through opening cryptocurrency accounts, and transfer the funds to wallets controlled by the criminal network. Victims were shown fictional profits on a fake investment website, encouraging them to invest more. When they attempted to withdraw money, they were told they first needed to pay taxes, deposits, or other fees.
“Criminals sell victims a dream return, but ultimately leave them with empty accounts and broken trust,” the West Flanders Public Prosecutor’s Office said in a statement.
Scale of the Operation
The investigation began in January 2024 after a woman from Koksijde filed a complaint about investment fraud. She had been convinced to make 32 transfers totaling a significant amount. The specialized investigation team of the Federal Judicial Police of West Flanders eventually linked more than 200 Belgian victims to the same criminal organization.
In the Netherlands, approximately 550 victims have filed complaints, with losses estimated at around 25 million euros, according to the ANP news agency via Welingelichte Kringen. The criminal organization allegedly employed more than 700 “financial advisors” and earned more than 100 million euros per month at its peak. Authorities believe there may be tens of thousands of victims worldwide.
The Mastermind
A 46-year-old Israeli-Polish man, described by Dutch police as “no stranger in the cyber world,” was arrested on May 26, 2026, during a flight from Dubai to Poland. He was subsequently extradited to the Netherlands, where authorities say he played a key leadership role in the international criminal organization.
Police Action
During the international police operation on Cyprus, 45 officers were deployed. Searches yielded computers, phones, data carriers, and 50,000 euros in cash, the Belga news agency reported via MSN.
Broader Context
This case is part of a growing phenomenon in the Benelux region. The FSMA (Financial Services and Markets Authority) has repeatedly warned about investment fraud involving fake celebrity advertisements. In 2024, the FSMA received 2,621 reports of irregular financial activities, with fraudulent trading platforms and cryptocurrency scams accounting for approximately half of all cases, according to the authority’s half-yearly fraud dashboard.
In December 2024, VRT NWS reported on a Russian network behind similar fake celebrity ads that had stolen more than 5 million dollars in Belgium alone. In April 2025, deepfake videos of Prime Minister Bart De Wever were used in similar scams.
What’s Next
The 27-year-old Belgian suspect appeared before the investigating judge in Veurne on July 9 and was detained. His case was heard by the council chamber on July 14 but postponed for one week at the defense’s request. The main suspect faces trial in the Netherlands, while the other suspects will face justice in Belgium and Cyprus.
Authorities urge the public to report suspicious websites to verdacht@safeonweb.be, check investment platforms against FSMA warning lists, and never install software that gives strangers access to their computers. Legitimate financial institutions do not use celebrity advertisements for investment offers.