The former CEO of supermarket chain Jumbo stored bank notes in a fridge at his Veghel, judges hearing his money laundering trial were told on Monday.

Police found a total of €448,000 in cash when they raided Frits van Eerd’s home and offices two years ago during an investigation into suspicious business transactions.

Van Eerd, 57, is charged with laundering hundreds of thousands of euros together with a car dealer, Theo E., who is the main suspect in the case.

He also faces charges of documentary fraud and failing to declare gifts from E., including a vehicle transporter and six luxury toolboxes. If found guilty he could be sentenced to several years in prison.

During Van Eerd’s time as CEO Jumbo grew to be one of the biggest supermarket chains in the Netherlands after taking over cut-price rivals such as C1000 and Super de Boer.

Sports sponsorship

The company also became one of the Netherlands’ biggest sponsors of cycling, motor sport and motocross, reflecting Van Eerd’s own passion for racing. Jumbo was one of the early sponsors of Formula 1 world champion Max Verstappen.

The Jumbo-Visma cycling team, co-sponsored with a Norwegian software firm, won all three of the major European multi-stage road races – the Tour de France, Giro d’Italia and Vuelta d’Espana – in 2023.

Some of the sponsorships were arranged through Van E., who has previous convictions for money laundering and is alleged to have close contacts in the criminal fraternity.

Van Eerd was not present for the preliminary hearing at the district court in Assen. His lawyer, Robbert Jonk, said Van Eerd client denied all the charges.

“My client is pleased that he can begin to tell his side of the story,” Jonk told the judges.

E.’s lawyer said his client was involved in negotiations with the prosecution service, adding: “That does not mean my client accepts the charges as laid.”

The trial is expected to be held in the second half of next year.