Everyone in the Netherlands knows the iconic yellow of Jumbo — but did you know that its former CEO has landed in some very hot water?
Frits van Eerd, the supermarket chain’s former CEO, has just been sentenced to two years in prison following a conviction for money laundering.
The Van Eerd family, who previously acquired HEMA and built Jumbo into a supermarket powerhouse, now faces serious reputational damage.
€450,000 found in his home
According to the NOS, police carrying out a search of Van Eerd’s home came across no less than €450,000 — now that’s not an amount you casually lose between the couch cushions.
During his trial, friends and family members of the disgraced CEO submitted statements about where Van Eerd received this money from, claiming it was because Van Eerd was wealthy and had expensive racing hobbies, but the judge didn’t buy it.
The statements were found to be unreliable and unverifiable. This wasn’t helped by the fact that some were even found to be falsified.
The judge also noted the money included suspicious €200 and €500 notes and was never declared to tax authorities.
Originated from crime
A court in Groningen ruled today that the money, which Van Eerd received from a car dealer (only named as E.) originated from criminal activity.
According to the NOS, the judge ruled that the money “originated from some crime… And Van Eerd knew that.”
The court also found that Van Eerd defrauded his own company through document falsification — yikes.
Well, that’s some Jumbo lore you can consider next time you’re waiting in line at checkout.
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