Financial crime investigators found huge amounts of cash during a raid of Frits van Eerd’s home in Heeswijk-Dinther, The Netherlands. According to a report in the NL Times on Thursday, when the investigators raided the Jumbo CEO, and various other locations across the Netherlands, they found hundreds of thousands of euro. It was part of a wide scale investigation into money laundering, suspicious real estate transactions, and tax fraud.
Van Eerd was arrested following the raids, along with nine others. Jumbo is the co-sponsor of one of the best WorldTour teams in men’s cycling, Jumbo-Visma, the home of riders like Wout van Aert, TdF champ Jonas Vingegaard, and recently crowned world champ, Remco Evenepoel. The company also sponsors a speed skating team, as well as motorsports.
Van Eerd was not the prime suspect in the investigation but Dutch news outlets have confirmed that his home and business premises were raided and searched by police and other authorities.
Van Eerd then temporarily stepped down as CEO however his lawyer refused to comment on questions from Dutch media. His lawyer did not explain why Van Eerd he obtained the cash during interrogation, the report said.
The acting Ton van Veen said in a statement that Jumbo itself was not the investigation. However, KPMG did begin an investigation into Jumbo’s sponsorship contracts in motorsport.
“Jumbo has taken note of an investigation that is currently being conducted,” a press release in September from the supermarket chain read. “We understand that the investigation does not focus on Jumbo. However, questions are being asked to Frits van Eerd in the context of the investigation.”
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