Air Holland boss guilty of money laundering

7th December 2006, Comments 0 comments

7 December 2006, AMSTERDAM — The former boss of the bankrupt airline Air Holland was found guilty in Rotterdam Court on Thursday of laundering millions of euros in drugs money.

7 December 2006

AMSTERDAM — The former boss of the bankrupt airline Air Holland was found guilty in Rotterdam Court on Thursday of laundering millions of euros in drugs money.

The court sentenced former chief executive Cees van D. to 18 months years in jail, of which six months were suspended.

His financial chief officer, Paul G., was sentenced to three years jail, six months of which were suspended.

After being appointed chief executive of the struggling Air Holland in 2001, Van D. realised that millions of guilders were necessary to keep the airline alive.

The judge said Van D. resorted to taking millions of guilders in criminal money. He knew the investments were of dubious origins, but didn't ask any questions.

In handing down the ruling, the court judge said Van D. had a strong self-interest in the success of Air Holland because he had invested his own fortune into the airline.

Paul G. played an important role in a criminal organisation. He was the financial brain and took millions of guilders in sport bags to London and Luxembourg.

In total, he transported NLG 60 million for a criminal organisation.

The money was then handed onto middlemen who made the money transferable. The funds were then invested in Air Holland.

Both executives expressed disappointment at their convictions. Van D. said he could not recognise himself in the picture the court had sketched of him, while Paul G. stressed that he would appeal the ruling.

[Copyright Expatica News + ANP 2006]

Subject: Dutch news

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