On April 11, the Dutchman Max R. and his girlfriend Emma H. were arrested by the tax investigation service (FIOD). R. is said to have extorted millions from companies and investors. It now appears that the CEO of the Dutch crypto exchange Bitvavo, Mark Nuvelstijn, has also fallen victim to the practices of R. Het Financieel Dagblad (FD) asked Nuvelstijn about the situation. He told the FD, among other things, that it is a private matter.
Web of lies
R. would have been involved in his shady practices for years. According to Dutch banks had been eyeing the man for a long time. But by opening a different bank account each time, R. managed to stay under the radar and thus cause 26 million euros in damage.
R. allegedly claimed to be a trader employed by BinckBank in order to inspire confidence among investors. He promised his victims returns of 25% per year. 80 investors fell for the lies of R., who ultimately only worked at BinckBank for a few months, but then on customer service that is.
However, it was not only investors who fell for R.’s practices based on the promises of 25% return per year. Companies that supplied services and products also suffered damage. For example, Denise Boekhoorn sold her house in Amsterdam to R. for 7.5 million euros. The daughter of ex-Hema owner Marcel Boekhoorn still owes R. tons, according to the FD.
In the situation of the house sold, some companies suffered damage. For example, architectural firm Just Design is said to have transformed the interior of the house sold, for which part of the amount is still open. In addition, R. is still in the red for 8,500 at a flower company. In addition, businessman Lex van Hessen lent R. 8 million euros to buy the house.
Bitvavo CEO one of the victims
However, R. did most of the damage to investors. He managed to gain their trust with lies, including by stating that the administration of his investment fund is done by Apex. Apex is a globally known investment fund service provider. However, he would never have been a customer there, according to inquiries from the FD.
At the beginning of April, the CEO of crypto exchange Bitvavo, Mark Nuvelstijn, filed summary proceedings against R. Nuvelstijn, according to whom the situation is a private matter and would have caused millions in damage. The interlocutory proceedings that were already pending are now adjourned now that the FIOD is investigating the practices of R. and his girlfriend.