The main players in a far-reaching and massive corruption case involving fraudulent property sales were jailed for up to four years by a court in Amsterdam on Friday.

The scandal – nicknamed the Klimop or Ivy case – centred on the sale and development of property by the Philips pension fund and developer Bouwfonds and represents the ‘biggest case’ in the history of the Fiod-ECD economic crime investigation department.
Chief suspect and property developer Jan van Vlijmen was jailed for four years for his role as the ‘head of a criminal organisation’ which was involved in ‘money laundering and bribery’, the department said. Van Vlijmen was found not guilty of defrauding the Philips pension fund.
Other defendants were jailed for between one and four years for their role in the affair. Corruption and bribery involving the directors of the Philips pension fund and project developer Bouwfonds are thought to have cost their employers a combined €250m.
Market rates
The scandal came to light in 2007 when it emerged pension fund bosses had been taking bribes in return for passing on confidential information and had bought and sold property at below the market rates. The fraud had been under way since at least 1995.
A number of the biggest players reached out of court settlements and will avoid a trial.
Last January, a deal was reached over the involvement of building firm Trimp & Van Tartwijk. The deal included fines of up to €1.5m for the firm, personal fines, and a 120 hour community service sentence for company director Harm Trimp.
In June 2010, The Hague property developer Harry Hilders reached a €40m out of court settlement with the justice ministry and Philips pension fund in connection with his role in the fraud. Van Vlijmen has also agreed to pay €75m out of court.
At least 12 other suspects in the case have also reached settlements totalling €3.7m and involving short community service sentences.
Phone taps
The investigation involved tapping 70,000 telephone conversations, as well as secret surveillance of meetings at the Mövenpick hotel in Den Bosch.
The probe came to a head in November 2007, when over 600 police and officials were involved in raids all over the country. People were arrested in 67 different locations.
Jail
The Parool points out that this is the first time so many convicted white collar criminals have been jailed in one case. Other investigations into fraud, corruption and insider trading have usually resulted in community service sentences.
It is not yet clear how many of the 10 men convicted in court on Friday will appeal.