(Bloomberg) -- A Dutch trader was arrested in an operation coordinated by three European countries investigating crimes linked to the Cum-Ex and Cum-Cum tax scandals that have spread across the continent.

Frank Vogel, a former trader at a Fortis unit, was detained, according to his lawyer. The Dutch Public Prosecution Service, without naming the individual, said a 53-year-old from Aerdenhout was arrested Tuesday on the suspicion of leading a plot to claim illegal tax refunds on dividends. 

A second man in Finland was also arrested in the operation that was conducted by officials in the Netherlands, Finland and Germany. Cum-Cum and Cum-Ex were controversial dividend arbitrage trades that tried to use complex structures to avoid dividend taxes or reap multiple rebates on taxes paid only once. 

The two suspects allegedly ran a Cum-Cum scheme resulting in Finnish and Dutch authorities wrongfully paying out at least €17 million ($18.2 million), according to Eurojust, the European Union law-enforcement agency that set up the task force that led to the arrests. The individuals are also being investigated for wrongfully seeking tax rebates via Cum-Ex transactions through German authorities.

A lawyer for Vogel, Jasper Hagers, declined to comment beyond confirming the arrest. After leaving Fortis, which later became part of ABN Amro Bank NV, Vogel set up his own fund, Global Securities Finance Solutions Holdings BV, or GSFS. He also describes himself as the owner of Waterline Capital BV on his LinkedIn profile.

Read More: Missing Millions Show Traders Exploiting Finland Tax Loophole

Cum-cum transactions, named after the Latin word for “with” that traders often use when discussing dividends, made headlines in March when French prosecutors raided the Paris offices of banks including BNP Paribas SA and Societe Generale SA. 

--With assistance from Donal Griffin.

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