Floribusiness Market & Trends Royal FloraHolland employee stole 4,3 million euro

Royal FloraHolland employee stole 4,3 million euro

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Investigation shows that during a nine month period of time a Royal FloraHolland employee stole 4.3 million euro from the auction. No other employees were involved in the theft.

Early May Royal FloraHolland disclosed a case concerning theft of funds that occured at the company. Hence an employee from the financial department was arrested by the police.

In order to clarify the exact nature and extend of the case, a forensic investigation was conducted commissioned by Royal FloraHolland. The investigation is now finished and shows that during a nine month period of time 4.3 million euro has been stolen. The forensic investigation proves the abuse of the authority belonging to a specific role. To be able to do this, specialistic knowledge of the financial system was needed. The system was manipulated in a sophisticated way.

It has also been concluded no other employees of Royal FloraHolland were involved in the theft. Immediately after the theft was noticed, external expertise was called in and appropriate measures were taken.

Royal FloraHolland is insured against theft. The insurance claim is currently being handled by the insurance agency. In addition, Royal FloraHolland is in consultation with the public prosecutor in order to determine how the remaining amount of stolen funds can be reclaimed.

Determination financial statements

The determination of the 2018 financial statements was postponed awaiting the outcomes of the forensic investigation. Based on the outcomes of the investigation the financial statements have been determined by the members council on 10 July 2019. Any possible impact is to be settled in the financial statement of 2019.

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