Erasmus MC professor had tons of cash stashed in his home

Take millions in payments from pharmaceutical companies and deposit them in various Luxemburg bank accounts. Then withdraw the money years later and drive it home hidden in a spare tire. It may sound like something out of a mob flick, but it’s the true story of Gerrit S., a retired Erasmus MC professor. The Supreme Court recently sentenced S. to 15 months in prison and half a million euros in fines.

S. headed Erasmus MC’s Oncology department for many years. In the 80s and 90s, pharmaceutical firms paid him for a variety of medicine trials. The physician transferred these payments to bank accounts in Luxemburg. All in all, the amount involved was 3.2 to 5.2 million euros, according to Dutch broadcaster NOS.

Cash in spare tire

In response to rumours about a possible end to banking secrecy in Luxemburg, the physician went over to withdraw his balance. Three times he drove back and forth between the Netherlands and the Grand Duchy, with stacks of bills hidden in his car’s spare tire. After emptying the balance, he had the accounts terminated.

Two years later, Gerrit S. came into the picture during the Dutch Tax and Customs Administration’s investigation into Dutch citizens’ undeclared capital in foreign accounts. After searching his home, the Fiscal Information and Investigation Service (FIOD) found 775,000 euros in cash hidden in the ventilation ducts of his flat. It also seized a small private plane, two mortgage-free flats in Amsterdam and a Mercedes.

S. had already been sentenced to 15 months and a EUR 500,000 fine two years ago, but the physician had appealed this lower court ruling. The Supreme Court has now confirmed the sentence.