Three people were arrested and various homes and office buildings were raided on Tuesday in an investigation into 8 million euros worth of fraud committed by Dutch investment company Hollandsche Wind. The Public Prosecutor and tax investigative service FIOD also seized several cars, Tubantia reports.

According to FIOD, the now bankrupt Hollandsche Wind was used to commit Ponsi fraud - an illegal pyramid scheme. Investors paid a minimum of 5 thousand euros and were promised high returns on wind energy projects. But their returns were paid with money from new investors. No money was ever invested in wind farms or real estate. According to the Prosecutor, the fraud amount is around 8 million euros.

The authorities would say nothing about the identities of the suspects arrested. 

In a coordinated effort, involving over 100 Public Prosecutor and FIOD employees, four homes and five commercial properties were raided. The homes are located in Zutphen, Steenderen, Terschuur and Hengelo. The business properties are in Arnhem, Armersfoort, Lelystad and The Hague. A large number of expensive cars and vintage cars were seized. 

This investigation does not only include Hollandsche Wind, but also its predecessor Noordenwind. The FIOD believes that the same kind of structure was used in Noordenwind as in Hollandsche Wind, only here investors were promised returns from real estate investments not wind energy projects.