Dutch justice ministry officials have sequestered several million euros from a financial advisor thought to be involved in the Vestia housing corporation fraud, the Telegraaf says on Monday.

Laren-based Arjan G is thought to have earned €20m in commission selling highly risky financial products to the housing corporation, which nearly went bankrupt in 2012 with debts of some €2bn.

G, who is 44, is also suspected of using some of the commission to bribe the housing corporation’s boss, Marcel de V.

Sources close to the fraud investigation have told the Telegraaf the money has been traced to Switzerland and is now being brought back. G’s laywer, Willem Koops, says his client has been completely open to the investigators.

Both he and Marcel de G are due to appear before the parliamentary inquiry into financial scandals at housing corporations. Both are also facing legal action.