Former Eurocommerce Director and His Son, Sentenced to Pay Back More Than 11 Million Euros to the State.

The bankruptcy of Eurocommerce in 2012 was one of the largest in the Dutch real estate history. Eurocommerce was at the time the owner of the world renowned, 2012 Olympic silver medalist, horse London, which was ridden by Gerco Schröder.

The horse owner and real estate mogul stood trial for bankruptcy fraud, money laundering, fraud and forgery as it turned out that Mr. Visser had taken loans from banks on basis of forged lease contracts. When his company went bankrupt in 2012, he owed the banks more than 700 million euros.

In 2016, the court sentenced Mr. Visser and his son to three and a half and one year in prison respectively for bankruptcy fraud.

However the case has proven to be far from done; last week the District Court of Overijssel in the Netherlands ruled that much of the money obtained by the father and son was obtained illegally as they had, just before the bankruptcy, withdrawn millions of euros from Eurocommerce.

The court therefore sentenced Mr. Visser to pay back € 6.4 million and his son € 5.2 million. According to the court, despite the business and the private bankruptcy of Visser, there is no reason to believe that he and his son are not be able to pay back.