The authorities of the United Arab Emirates (UAE) have informed the Netherlands that, as part of an ongoing criminal investigation, they have arrested a suspect. This concerns a 21-year-old Norwegian man. The man was internationally wanted for involvement in large-scale fraud surrounding the alleged gambling platform ZKasino.
Red Notice
The criminal investigation, which is being conducted by the FIOD under the direction of the Public Prosecution Service, focuses on extensive fraud surrounding gambling platform ZKasino. Investors were frequently led to believe that they would receive their investments back within 30 days. However, this did not happen. On April 29, 2024, a first suspect residing in the Netherlands was arrested in this investigation. Messages between the suspects have shown that it was never the intention to return the invested funds, and the technical setup of the smart contract suggests this as well. Such a modus operandi is referred to as a ‘rug pull’; a form of investment fraud involving cryptocurrency. On March 6, 2025, an (Interpol) Red Notice was issued for the 21-year-old co-suspect.
Extradition
Following the arrest in the UAE, the Netherlands is now submitting a formal extradition request. The Netherlands looks forward with confidence to a smooth extradition procedure in the UAE and is very grateful to the UAE authorities for their good cooperation.
Since August 1, 2023, the Netherlands has treaties with the UAE for mutual legal assistance and extradition in criminal matters.