The Dutch branch of French-based luxury goods maker Louis Vuitton has agreed to pay half a million euros ($595,000) in an out-of-court settlement linked to a money laundering investigation, the Netherlands’ national public prosecution office announced Thursday.
Prosecutors said the fashion house did not adhere to a law aimed at preventing money laundering and terrorism financing when a 36-year-old woman allegedly repeatedly used different names as she spent cash “on luxury goods at retailers such as Louis Vuitton.” The woman is suspected of spending more than 2 million euros in criminal proceeds from August 2021 to February 2023.
“Louis Vuitton violated the Money Laundering and Terrorist Financing (Prevention) Act … and did not do enough to prevent money laundering by its customers. For an extended period, the company failed to properly identify the customers who repeatedly came to spend large sums of cash,” the prosecutors’ statement said.
A spokesperson at
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