The individuals are under investigation for allegations of bankruptcy fraud, embezzlement and the breach of accounting obligations. The main suspect, a real estate developer in the Düsseldorf area, et al., allegedly moved large amounts of his private assets to other individuals’ accounts before filing for insolvency proceedings. By hiding these assets, he was able to defraud millions of euros. 
On 26 March, a coordinated operation took place across six countries. With coordination from the Eurojust headquarters, over 49 properties were searched in Germany, Austria, Luxembourg, the Netherlands, Spain and Switzerland. During the operation that was executed on behalf of the German authorities, the main suspect, as well as a suspected accomplice, were arrested in Spain and Germany respectively. The searches resulted in the seizure of large quantities of evidence, including mobile phones, computer equipment, business records and other documents. Authorities were also able to seize assets worth millions of euros, including cash, artworks, watches, handbags and a luxury sports car.
Given that evidence and assets were scattered across Europe, authorities needed to work together to take action against the large-scale economic and financial crimes committed by the suspects. Multiple coordination meetings were organised at Eurojust making it possible for authorities to exchange information and plan the coordinated operation. The searches and asset freezing that took place across six countries were coordinated from the Eurojust headquarters in The Hague, ensuring that all actions took place simultaneously and authorities could immediately respond to any issues occurring during the international operation.
The analysis of the collected evidence will now start in Germany, and investigations into the fraud will continue.
The actions were carried out by the following authorities:
- Germany: Public Prosecutor`s Office Düsseldorf – Central Authority and Point of Contact for the Prosecution of Economic and Financial Crime in North Rhine-Westphalia (ZeFin NRW); State Federal Police Office North Rhine-Westphalia (LKA NRW)
- Austria: Public Prosecutor‘s Office for Combating Economic Crimes and Corruption; Tyrol Police Directorate – Economic Crime Unit & Asset Recovery Unit
- Luxembourg: Investigating Judges & Public Prosecutor’s Office Luxembourg; Judicial Police
- Netherlands: National Office for Serious Fraud, Environmental Crime and Asset Confiscation; Fiscal Information and Investigation Service / FIOD
- Spain: Investigating Court num. 3 in Ibiza; Public Prosecution Office Ibiza; Guardia Civil Judicial Police Unit at the Balearic Islands, Public Prosecution Office Audiencia Nacional; Central Investigating Court num. 3
- Switzerland: Public Prosecutor’s Office III of Zurich (International Legal Assistance Division); Cantonal Police of Zürich