Friday, May 20, 2016

Former CEO of SNS Property Finance sentenced to eighteen years in prison – NU.nl

The court Middle Netherlands considers him guilty of directing a criminal organization, bribery, money laundering and forgery. Against Greenwood had demanded four years.

The fraud at Property Finance in November 2012 came out. It then went a very bad time with the SNS real estate branch. Greenwood was the interim director who had to pull the item out of the doldrums. He hired before acquaintances of his in which a portion of their salary ceded to him without knew their bank. This was done through false invoices under the name ‘advisory activities’.

Through their actions, the defendants integrity and confidence of SNS Property Finance seriously damaged, said the court.



Other suspects

Two co-defendants, both from Haren, received Friday fifteen months respectively (five suspended) and imposed three months in jail. Six other co-defendants were sentenced to between 80 and 240 hours.

All the defendants were acquitted of fraud and embezzlement, hence the punishment be lower than required.

A total of nine suspects were have drawn together 2.3 million to SNS Property Finance. The court in its own holdings of suspects imposed claims totaling more than 2 million. Also, fines are imposed on those undertakings from 5,000 to 50,000 euros

By: Reuters

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