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Air Holland Was Financed By Drug-money  
User currently offlineBeaucaire From Syria, joined Sep 2003, 5252 posts, RR: 24
Posted (9 years 9 months 3 weeks 4 days 12 hours ago) and read 2818 times:

Air Holland 'financed by drugs money'

30 November 2004

AMSTERDAM — Two directors of bankrupt firm Air Holland have been arrested on charges they financed the airline for years with illegal drugs money, it was reported Tuesday.

The arrested directors have been identified as former Air Holland chief executive Cees van D., 52, and the company's former financial director, Paul G., 42.

A total of seven people have been arrested on drugs charges amid allegations that the airline was used to set up a drugs route between the Netherlands, the Netherlands Antilles and Suriname.

Police have raided the homes of the seven suspects in recent weeks, accusing them of money laundering and smuggling at least 633kg of cocaine. The

shipment was discovered several months ago in a container of coffee beans at Rotterdam Port.

According to a report in newspaper De Telegraaf, a spokesman for the public prosecution has confirmed the arrests. A total of EUR 50,000 and a firearm were also reportedly seized in the raids.

The suspects allegedly worked on assignment for a 37-year-old resident of The Hague. This person is currently being detained in Brazil after allegedly being found in possession of 50,000 ecstasy pills on 11 September.

The EUR 25 million allegedly earned by the drug dealing is believed to have been invested into Air Holland, but the company's planes are not thought to have been used for drug smuggling. The profits were also invested in real estate and other businesses.

A 34-year-old woman of Bussum and a 52-year-old Amersfoort man are accused of money laundering. Two Rotterdam residents aged 34 and 40 and a 32-year-old Portuguese man have been arrested on drug smuggling charges.

The financially-ailing Air Holland has been a source of controversy for some time. It previously hit the headlines after being granted permits by the aviation inspectorate despite the fact that it was almost bankrupt.

When Air Holland went bust in April 2004, the company left behind a debt of some EUR 30 million and Dutch entrepreneur Erik de Vlieger bought it out.






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6 replies: All unread, jump to last
 
User currently offlineGlobeTrekker From Netherlands, joined Dec 2003, 851 posts, RR: 14
Reply 1, posted (9 years 9 months 3 weeks 1 day 20 hours ago) and read 2609 times:

total of seven people have been arrested on drugs charges amid allegations that the airline was used to set up a drugs route between the Netherlands, the Netherlands Antilles and Suriname.

This is terrible! But I do not get the Surinam part.....Air Holland never flew to Paramaribo. They wanted to start service between Neiderrhein end the Surinam capital, but it never realized. Nevertheless a terrible situation!

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User currently offlineJmc757 From United Kingdom, joined Mar 2000, 1298 posts, RR: 7
Reply 2, posted (9 years 9 months 3 weeks 1 day 20 hours ago) and read 2599 times:

It is terrible, but looking back is it any surprise? It all seems to become clear when considering the strange nature of the way this airline operated. How many times did they go under only to be re-born? Nobody ever find that odd?

User currently offlineDogfighter2111 From United Kingdom, joined Nov 2004, 1968 posts, RR: 1
Reply 3, posted (9 years 9 months 3 weeks 1 day 20 hours ago) and read 2590 times:

What?, Did the F/A's go around with the trolley with Alcohol, Cigs, Models, Drugs, Perfume.  Nuts

User currently offlineAviationfreak From Netherlands, joined Nov 2003, 1166 posts, RR: 40
Reply 4, posted (9 years 9 months 3 weeks 1 day 18 hours ago) and read 2546 times:

It is terrible, but looking back is it any surprise? It all seems to become clear when considering the strange nature of the way this airline operated. How many times did they go under only to be re-born? Nobody ever find that odd?

Very odd. I asked myself the same question every time they got bankrupt and rised from the death again and again and again and...

The more strange is how could they possible go bankrupt. Not that I approve it but there should be enough financing with all that drugs money.

Just a thought.

Sander



I love both Airbus and Boeing as much as I love aviation!
User currently offlineLj From Netherlands, joined Nov 1999, 4430 posts, RR: 0
Reply 5, posted (9 years 9 months 3 weeks 1 day 18 hours ago) and read 2503 times:

It all seems to become clear when considering the strange nature of the way this airline operated. How many times did they go under only to be re-born? Nobody ever find that odd?

No it's not odd. Air Holland 1 was started by someone within the aviation industry (wasn't it John de Block) and went bankrupt due to overexpansion. Air Holland II was the continuation of Air Holland I with different management and had the backing of a tour company. Air Holand III had, if I'm not mistaken, the director of Sudtours as their primary investor and went bankrupt due to the fierce competition (just like Air Holland II). Air Holland IV (the most recent Air Holland) had totally different inevestors if I'm not mistaken. The only common thiing of these Air Hollands is that management decided to keep the Air Holland brand (very cheap as you don't have to repaint the aircraft).

he more strange is how could they possible go bankrupt. Not that I approve it but there should be enough financing with all that drugs money

IF (and it still is a big IF) they intended to launder money then a bankruptcy isn't strange at all as you would exchange dirty money for good money and thus have to extract cash from the airline even though they cant afford it. A bankruptcy isn't a problem if the money has already been laundered. Moreover, if you can extract more assets than you've invested it could be a lucrative investment (although this would also imply that Air Holland was also a con).


User currently offlineGoAibusGo From Netherlands, joined Mar 2001, 275 posts, RR: 2
Reply 6, posted (9 years 9 months 3 weeks 1 day 14 hours ago) and read 2429 times:

........and HollandExel and rest of the ExelAviationGroup are probably also part of this. We will see !

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