Former ING CEO Ralph โคHamers โWill Not Face โCriminal Charges in Money Laundering Case
The Hague, Netherlands โฃ – Former ING CEOโฃ Ralph Hamersโ will not be prosecuted for his role in a major money laundering scandal that plagued the Dutchโ bank between 2010โ and 2016, a courtโข in โTheโข Hagueโ ruled today. The โฃdecision concludes a five-year legal battle initiated after concerns that Hamers, as chief executive,โ oversaw criminal offenses โขrelated to the facilitation of โฃmoney โlaundering through ING accounts.
The case โคstemmed from a 775 million euroโ settlementโ INGโ reachedโฃ in โ2018 with authorities after admitting criminals used its platform to launder hundreds of millions of euros. โขWhileโ the public Prosecution Service initially investigated hamers, they concluded last year there was “insufficient evidence” to pursue personal charges. Today’s ruling โaffirms โขthat conclusion, acknowledging Hamers’ recent cooperation with the court and improvements ING has made โto its โanti-moneyโฃ laundering controls.
The legal proceedings were brought by the โFoundation for Business Information Research โข(SOBI), who successfully challengedโ the โPublic Prosecution Service’s initial decision not to prosecute individuals at ING. The โcourt had previously โcriticized Hamers for not appearing at earlier hearings, but acknowledgedโ in today’sโ decision that his recent testimony – answering questions and providing โinsight into his role at the complex international bank – was vital. hamers’ lawyer had previously stated his client hadโฃ been toldโค his presence wasn’t required at earlier stages.
