Fmr. Jumbo CEO Frits van Eerd convicted of money laundering, fraud; 2 years in prison
The court in Groningen sentenced former Jumbo CEO Frits van Eerd to two years in prison on Thursday. The court convicted him of money laundering, forgery, and accepting bribes. Fellow suspect, former motocross racer Theo E., was sentenced to 3.5 years in prison for bribery and tax fraud, Omroep Brabant reported.
The ruling is harsher than the Public Prosecution Service (OM) had recommended. The OM wanted Van Eerd sentenced to two years in prison, of which eight months are conditionally suspended. The court did not suspend any of Van Eerd’s prison term.
Van Eerd was arrested in September 2022 after the police raided his home in Heeswijk-Dinther and his office in Veghel and found 448,000 cash hidden in various places at the two properties. The cops raided Van Eerd as part of a money laundering investigation into former motocross racing driver Theo E.
According to the OM, Van Eerd, as Jumbo CEO, created and approved false invoices and classified them as sponsorship money for a motocross team, while the money ended up in Theo E.’s pockets. In exchange for the forged invoices, Theo E. gave Van Eerd various gifts, including cash, motocross bikes, toolboxes, a small SUV, and a Mercedes, the OM said.
The court considered it proven that Van Eerd laundered money for Theo E., saying that Van Eerd knew that the money he received from E. originated from criminal activities. “Laundering criminal assets facilitated the underlying crime,” the judge said, according to ANP. “Money laundering undermines the legal economy and is a threat to society. Van Eerd is held seriously accountable for this.”
The judge also considered it proven that the disgraced supermarket CEO abused his position as Jumbo’s top executive and defrauded his own company with forged sponsorship invoices. He enriched himself at Jumbo’s expense, not only violating the law but also Jumbo’s internal rules. The judge called it “extremely reprehensible” that the CEO flouted these very rules while new employees watched a video of Van Eerd explaining them and reminding newcomers to adhere to them.
Van Eerd stepped down as CEO of Jumbo due to the criminal investigation against him. He always denied the allegations.
