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Former SNS Property Finance director arrested

Wednesday 13 February 2013

A former director at SNS Property Finance was arrested on Tuesday on suspicion of money laundering and embezzlement, the NRC reported on Wednesday.

Buck Groenhof's former assistant has also been arrested, the paper said.

SNS Reaal, nationalised at the beginning of this month, made a formal complaint against Groenhof last Friday in connection with a 'conflict of interests', the newspaper said.

Groenhof was 'chief restructuring officer' at the bank's troubled property division and left at the end of last year.

Five other external members of staff are also under investigation, the NRC said.

© DutchNews.nl



 

Readers' Comments

Better call Corzine quick....no one ever heard of restructuring shareholder assets?

By Dr Ponzi | 14 February 2013 1:33 PM

This a tough call - whether Buck Groenhof, if found guilty, should be sentenced to 7 years' hard labour in a Dutch abattoir or to be required to eat only Albert Heijn "out of date" lasagne.

recent Annual Report

Our aim is to sell transparent and effective products at a fair price. This is not too lofty and intangible a goal - SNS REAAL is a customer-facing company. It can emulate the many other Dutch companies for whom a strong notion of customer confidence forms the basis for its earnings.

Our mission Simplicity in finance follows from the origins of our company nearly 200 years ago. Even then, openness, simplicity and solidarity were the pillars supporting our operations. Our aim is to use those same pillars to aid today’s customers in enhancing their ability to manage their financial affairs. Simplicity in finance is intended to gain and retain consumers’ and companies’ trust.

By notnef | 14 February 2013 4:01 PM

 
 
 
 
 
 
 
 
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