Dutch prosecutors arrest three on suspicion of laundering $1.2 billion
08 Apr 2019

Dutch prosecutors on Friday said they have arrested three former employees of a Dutch company suspected of laundering about $1.2 billion for a client in India.

The company bought materials and services for a client that since 2006 has been involved in a major gas pipeline project in India, the prosecutors said without identifying the businesses.

The three are accused of forging invoices for the Indian company, enabling it to charge its own gas customers twice.

The proceeds were then allegedly transferred through a web of international businesses to a company in Singapore, owned by the Indian client.

By Bart Meijer, Reuters, 5 April 2019

Read more at Reuters

Photo: Reserve Bank of India / കാക്കര [CC BY-SA 3.0], via Wikimedia Commons

Read more:

Dutch banks too lax on money laundering – central bank

Tax treaties create $4.2 trillion cash flow through Netherlands

India needs to improve on beneficial ownership information – OECD peer review

 

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