The head of supermarket group Jumbo has been released from custody but remains a suspect in a wide-ranging investigation into money laundering.

Frits van Eerd was one of of nine people arrested following police raids on Tuesday but was let out at the weekend.

‘Frits is back with his family,’ Jumbo said in a short statement. ‘This has been a difficult time for everyone… we will discuss the situation carefully in the coming days,’ the family-owned firm said.

Van Eerd was questioned as part of a major investigation into money laundering and tax fraud. The main suspect in the case, 58-year-old car trader Theo E, was remanded in custody for a further 14 days on Friday.

Prosecutors said earlier the investigation focuses on transactions in real estate and cars, unexplained large cash deposits and sponsorship contracts in motocross. E leads the motocross team sponsored by Jumbo