New Dutch Supreme Court Ruling creates a predicament for Credit Europe Bank and the Dutch Central bank

CEB

AMSTERDAM, NOORD HOLLAND, THE NETHERLANDS, October 11, 2022 /EINPresswire.com/ -- In March 2022, Exposed Foundation² wrote an article regarding an ongoing dispute with Credit Europe Bank¹ (CEB) and a whistleblower's allegations that the Credit Europe Bank was involved in illegal activities, including money laundering. Amongst other alleged activities, the owner of the bank Husnu Ozyegin was accused of using the bank's money to fund illegal loans to purchase ships.

The bank's owners, Husnu Ozyegin and his son Murat Ozyegin, used shell companies in Malta and Liberia to hide these transactions according to evidence presented to Quotenet.nl³ and Exposed Foundation.

Husnu Ozyegin is a billionaire and one of the wealthiest people in Turkey, He founded Finansbank in 1987 which evolved into Credit Europe Bank and is now under the Fiba Group /Holding umbrella.

Concerns regarding the activities were brought to the attention of De Nederlandsche Bank (DNB) - the Dutch Central Bank - back in 2015 with a meeting between a whistleblower and Olivier Houppermans who was representing DNB. The matter seemed to be overlooked as Murat Ozyegin remained on the board of directors during and after 2015.

The recent ruling from the Supreme Court of the Netherlands has stated that all previous hearings in the lower courts have been incorrect in their judgment to not allow witnesses to be heard in the matter. The case has also been followed and updated with several articles in the dutch magazine Quote. “Quotenet.nl” and other news outlets.

This is a major development for the whistleblower - in the majority of the cases proceeding a supreme court ruling the next court of appeal will adhere to the ruling of the nation's highest court - which will mean witnesses will be called.

There is no confirmation on the names of witnesses that will be summoned, but one would assume there will also be many questions about DNBs handling of the case and whether they maintained European banking standards.


The case has now been sent to the Court of Appeal of The Hague for further consideration and decision.

Related case numbers
Case number: Credit Europe Bank ECL:NL:GHAMS:2021:1025 / 200.261.894/01

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Exposed Foundation
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¹ https://www.crediteurope.nl/
² https://exposedfoundation.org/
³ https://www.quotenet.nl/zakelijk/rechtszaken/a41172575/credit-europe-bank-hoge-raad-husnu-ozyegin-cetin-sasmaz/