The Fiscal Information and Investigation Service (FIOD) of the Netherlands have arrested a 42-year-old man for allegedly embezzling money from his employer and committing tax fraud. The authorities searched the three residential properties that the detainee owns. They also seized documents, data storage devices, and a wine collection.
The suspect’s employer conducted an internal investigation that revealed that he systematically embezzled money for years while working as the head of financial departments in the Netherlands and Belgium. He transferred money from company accounts to other accounts and allegedly used it to repay part of his mortgage and live luxuriously. The total amount of embezzled funds is estimated to be around €2.8 million ($2.87m).
Further, Dutch tax authorities have confirmed that the suspect failed to declare all of his income on his tax returns, leading to a tax loss of over €750,000 ($769,503).
Source: FIOD, Netherlands