THE HAGUE: Dutch investigators have arrested three former employees of a local company suspected of laundering some US$1.2 billion for an energy client in India, prosecutors said Friday .
The company also acted as a so-called"invoice duplicator" meaning the Indian company was able to claim costs twice from gas customers, the statement added.The gains were then transferred via a complex web of businesses based among others in Dubai, Switzerland and the Caribbean, before eventually ending up at a business owned by the Indian company in Singapore.The suspects allegedly received payments of up to US$10 million for their involvement.
Dutch investigators of the elite Fiscal and Investigation Services raided the company's premises in November 2017, seizing administrative records.
Source: News Formal (newsformal.com)
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