Louis Vuitton Investigated For Ties To €3m Laundering Scheme

The well-known luxury equipment store, Louis Vuitton, is being investigated for imaginable connections to an world money laundering scheme. To beryllium specific, nan Dutch Public Prosecution Services (OM) person named Louis Vuitton stores successful nan Netherlands arsenic suspects successful a money laundering investigation that involves astir €3 cardinal successful rate purchases, each made by nan aforesaid woman.

The main fishy of nan scheme, a Chinese female from Lelystad known publically only arsenic Bei W., reportedly spent a play of 18 months (September 2021 to February 2023) making various rate purchases nether different names and email addresses astatine different Louis Vuitton stores successful nan Netherlands. According to nan OM, this money – astir €3 cardinal successful full transactions – were illicit proceeds obtained done criminal activity. 

Dirty money, designer bags, and an accomplice

None of nan individual purchases crossed nan €10,000 ineligible period which would necessitate nan shop to tally a inheritance cheque connected nan transaction (checking recognition and reporting nan rate acquisition to authorities), but nan OM presses that nan manner location should person rung siren bells owed to nan suspicious activity. Additionally, boutiques and stores do person a ineligible work to alert nan authorities to immoderate types of transactions, nether Dutch law.

In summation to Bei W., a unit personnel astatine Louis Vuitton is suspected of assisting successful nan scheme, alerting Bei W. to caller items that would stay nether nan €10,000 period and different items that could facilitate nan laundering. The personification Bei W. received nan illicit costs from, an underground banker, has besides already been convicted for their engagement successful this scheme.

Daigou, nan adjunct to an world scheme

Specifically, Bei W. is accused of utilizing a shopping strategy called Daigou, done which buyers acquisition luxury equipment for group successful China to debar other import taxes and issues pinch authenticity of nan items. The nonstop worth of nan Daigou trading strategy is unknown, but consultancy patient Re-Hub estimated its worth astatine astir €74 cardinal astatine nan extremity of 2023. According to nan prosecution section of nan case, nan Daigou trading strategy is often utilized by criminal networks to launder money. The OM alleges Bei W. sent nan luxury equipment to China and Hong Kong arsenic a method of circumventing nan precocious import taxes.

Authorities authorities that by not acting much firmly successful lieu of these suspicious purchases, nan marque was complicit successful nan money laundering scheme, but whether Louis Vuitton will look charges is yet unknown. Proceedings connected nan lawsuit are not expected to resume until adjacent year. The marque has besides not responded arsenic of yet to nan allegations.