‘Directions for money laundering at parent company Miss Etam and Steps’

According to the investigating judge, it could well be that the company has set up structures to channel money and launder. The issue is added to the already known evidence of market manipulation and forgery.

The time writes that, as part of the investigation, searches also took place at FNG’s in-house attorney, law firm NautaDutilh. One of the lawyers was allegedly charged by the investigating judge.

Millions disappeared

The money flows from FNG through the Fashion Buying Platform purchasing platform in particular raise questions. Via the network and share transactions with also structures in Switzerland and Hong Kong, tens of millions of euros disappeared.

Earlier, FNG founders Dieter Penninckx and his wife Anja Maes were arrested. They are suspected of forgery, submission of false annual accounts, manipulation of the stock exchange price, misuse of company resources and not wanting to cooperate with the Belgian stock exchange authority FSMA.

In the one

The investigating judge had released them under strict conditions, but according to the public prosecutor Penninckx and Maes did not adhere to this. At the end of last week Penninckx in de cel and his wife got an electronic ankle bracelet.

Under the leadership of the founders, FNG grew partly thanks to a number of them acquisitions rapidly becoming one of the largest fashion houses in the Benelux. At its peak, the company achieved a turnover of more than half a billion euros with 3,000 employees.

But this year the problems at the company suddenly started to pile up quickly. In early August, FNG went bankrupt.


Worked at the Dutch parts of the Belgian fashion group 1500 people. Earlier this month it became part of the business restarted under new ownership.

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