Sept. 28 (Bloomberg) -- Dutch authorities arrested four men suspected of selling more than $200 million in investments in U.S. life insurance policies in an alleged Ponzi scheme.
Quality Investments BV is suspected of having sold investment products to hundreds of investors, mainly in the Netherlands and Belgium, the Dutch Fiscal Information and Investigation Service said in a statement today.
Provident Capital Indemnity Ltd., the Costa Rica-based firm accused by U.S. prosecutors and the Securities and Exchange Commission in January of conducting life settlement bonding fraud, would provide the securities, the Dutch authorities said.
No one at Quality Investments was available to comment on the allegations, according to a telephone operator at its Amsterdam offices, who declined to be identified.
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