The Antwerp Criminal Court convicted 10 defendants for involvement in a multi-million-dollar fraud scheme at the TV production company, which has produced Flemish programs such as "Familie," "De Buurtpolitie," and "Blind Gekocht."
Company employees, such as a former financial director, Christian B, and a former managing director, Kristiaan S, took part in the scheme, as was revealed after the production company's auditor discovered four suspicious cash flows.
Through his companies, Christian B. invoiced the production company for additional services allegedly performed by himself, his family, and acquaintances, totalling €6.2 million. These turned out to be fictitious services, which he substantiated with falsified service reports and forged invoices.
Christian B. also invoiced a window decoration company €2.5 million for "curtains and related goods." Again, these turned out to be fictitious services. The company provided Christian B. with cash, and the same amount was subsequently transferred from the production company to the window decoration company.
The former financial director also withdrew €3 million in cash from the production company's account. Some of the cash expenditures could be substantiated with documents, but at least €1.6 million could not be accounted for. However, Christian B. was acquitted of these charges because, according to the court, it could not be proven that this amount was not subsequently used for the production company.
A final suspicious cash flow was the €600,000 he invoiced through his management company for services he did not perform. Here too, he used false invoices and documents. Finally, he was also prosecuted for money laundering, in view of the €3.1 million in cash he deposited into his accounts and those of his family members and companies.
The court found that Christian B. was guilty of, among other things, forgery, computer forgery, fraud, breach of trust, and money laundering, and sentenced him for 40-months suspended prison sentence and an €8,000 fine. He was also banned from the business for ten years and forfeited of €4.5 million.
The production company was awarded €9.5 million in damages. The window decoration company was sentenced to a €80,000 fine, the director received a fifteen-month suspended prison sentence (except for the portion served in pretrial detention), a €4,000 fine, and a five-year professional ban. Each of them forfeited €125,000.
The other defendants were companies of which Christian B. is the sole shareholder and usually the sole manager. They each have to pay fines ranging from €80,000 to €120,000. In total, the court forfeited €8.1 million from these companies.
Kristiaan S., the former managing director of the production company, and his management company reached a settlement with the public prosecutor. This means they must each pay €20,000 and compensate the production company for the damages they caused.
