Max Verstappen’s $1.49 Million sponsor company CEO in custody for money laundary inquiry

Tanish Chachra | 16/09/2022
Max Verstappen's $1.49 Million sponsor company CEO in custody for money laundary inquiry

Jumbo, a supermarket chain, sponsors Max Verstappen, and its CEO is under police custody amidst a money laundering inquiry.

Max Verstappen is a massive commercial figure for any company. Especially for the Dutch corporates, as the European nation, last year got its first F1 champion, and now he’s on the verge of fetching the second.

Jumbo, a Dutch supermarket chain, has been sponsoring Verstappen since the early years of his career. But now, they seem to be in a tough position.

The Police, along with investigators, raided the home of Jumbo’s CEO, Frits van Eerd and was taken into custody. A joint investigation by the FIOD, the police, the Functional Public Prosecutor’s Office and the Northern Netherlands Public Prosecutor’s Office initiated an extensive operation against money laundering.

So far, nine people have been arrested in the project. But the officials so far have not confirmed whether van Eerd is among them or not. Meanwhile, Jumbo has denied its inclusion. But their headquarter in Veghal have also been targeted.

Right now, Verstappen, who this corporation reportedly pays $1.49 Million a year as a sponsor, has not taken any step amidst this crisis. But it remains to be seen whether he’ll disassociate himself with the brand or not if it escalates further.

Though, the F1 superstar doesn’t have a reason to worry, as no direct links of any money laundering by the accused party has been linked to Verstappen.

According to the Dutch sources: “Prosecutors say the investigation focuses on transactions in real estate and cars, unexplained large cash deposits and sponsorship contracts in motocross.”

Also read: How Arthur Leclerc motivates his brother to ‘Pass the Dutchie’ Max Verstappen

Max Verstappen almost getting his second title

The 2021 world champion appeared into this season as one of the title favourites. But, Verstappen has only exceeded expectations and been leading the championship.

Currently, he enjoys a colossal lead of 116 points, with the season getting into the last few races of the calendar. It also calculated that if Verstappen wins the race and Leclerc finishes P7 or lower in Singapore, the Red Bull sensation can only clinch the title that Sunday.

Also read: Sebastian Vettel, who won 6 Nations’ Cup with Michael Schumacher, will return to racing post-retirement at ROC

Post Edited By: Tanish Chachra
Max Verstappen Red Bull

About the author

Tanish Chachra

Tanish Chachra is the Motorsport editor at The SportsRush. He saw his first race when F1 visited India in 2011, and since then, his romance with the sport has been seasonal until he took up this role in 2020. Reigniting F1's coverage on this site, Tanish has fallen in love with the sport all over again. He loves Kimi Raikkonen and sees a future world champion in Oscar Piastri. Away from us, he loves to snuggle inside his books.

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