Philips claims €150m in fraud affair

Philips pension fund has made claims of €150m in connection with a property fraud affair which has been under investigation since the end of last year, according to Monday’s Financieele Dagblad.

It is the first time Philips has revealed the figure involved which is ‘considerably higher’ than the €45m sources close to the legal inquiry into the affair estimated last year, the paper says.
According to experts, the claims on assets, including the homes of two former directors, should be seen as the first step towards recouping losses made by the Philips pension fund.

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