Former Jumbo CEO jailed for for money laundering
Former Jumbo chief executive Frits van Eerd has been sentenced to two years in prison for his role in a money laundering scheme involving false invoices and undeclared cash.
Judges in Groningen ruled on Thursday that Van Eerd defrauded his own company and knowingly accepted criminal money. “He enriched himself at the company’s expense, falsified documents and laundered a large sum of money, thereby facilitating underlying criminal activity linked to serious organised crime,” the court said.
The case centred on €446,000 in cash found at Van Eerd’s home during a police search in 2022. The court said he knew the money came from criminal sources, having received large amounts from co-defendant and car dealer Theo E.
Theo E. was sentenced to 42 months in prison and banned from holding company directorships for nine years
Van Eerd’s lawyers had submitted statements from friends and relatives in an attempt to explain the money’s origin, but the court rejected the claims as unverifiable and, in most cases, inaccurate. His argument that he kept large sums at home due to his wealth and racing hobby was implausible, the court said.
The court pointed to how the cash was hidden in unusual places, such as envelopes behind books, a wooden box and even a fridge. Some of the notes were €500 bills and none of the cash was declared to the tax authorities.
Under Van Eerd’s leadership, Jumbo grew from a regional supermarket with 54 stores to a national chain with more than 700 branches. He remains a one-third shareholder.
The company has not yet responded to his conviction.
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