Dutch Authorities Are Investigating Louis Vuitton Netherlands as Part of a Money Laundering Case
The subsidiary of the French house is being probed by Dutch authorities for its connection to a money-laundering case against a Chinese woman. Identified as Bei W., the customer reportedly laundered nearly $3.5 million (3 million euros) from September 2021 to February 2023 at LV shops dotting the Dutch country, The New York Times reported.
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Over the almost 18-month period, Bei W. never surpassed 10,000 euros, or almost $11,800, on a single luxury-goods transaction; going over that benchmark would call for a report of a cash purchase, The New York Times reported. That repeated string of sales, as well as hovering near the cash-reporting threshold, should have been a red flag to Louis Vuitton Netherlands stores, authorities say. As a result, prosecutors are investigating the subsidiary to see if it violated any money-laundering regulations.
Bei W. allegedly used unlawful funds, sourced from illicit activities, to purchase a variety of high-end goods from LV stores under different names and e-mail addresses, authorities detailed at a preliminary hearing earlier this month. The customer in question reportedly used daigou, a practice where a person purchases goods on behalf of someone located in mainland China and ships the items to them, to shop at the Dutch Louis Vuitton stores. Bei W. allegedly sent her purchases back to China and Hong Kong, officials say. These kinds of daigou purchases (the market of which is estimated around $87 billion in 2023, according to the site Dutch News) can skirt high import taxes in China, but they can also be a way to conceal the source of illicit funds. That's key here, because Dutch authorities allege Bei W.'s money came from an underground banker trying to launder money.
The person from whom she received the cash has already been convicted for their involvement in the plot. Two others involved in the case are also facing charges, one of whom worked at the maison and allegedly alerted Bei W. as to when items become available in the proper price range for the scheme, according to prosecutors.
LVMH did not immediately respond to Robb Report's request for comment.
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