€70 mil. seized from Rotterdam finance service on money laundering charge

The Dutch authorities seized the bank accounts of a financial service provider from Rotterdam who is suspected of money laundering. These accounts contained a total of 70 million euros, the Public Prosecutor announced. No arrests were made thus far, the Telegraaf reports.

The authorities started investigating the service provider after a report that it possesses "a large amount of cash". The investigation revealed transactions that "had no business economic objective". The company also used a trust office, which could indicate that it has something to hide, according to the Prosecutor. "These signals could point to money laundering practices", the Prosecutor said.

The name of the company involved was not revealed.