Former Verstappen sponsor jailed for money laundering, bribery

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Frits van Eerd, the former CEO of Dutch supermarket giant Jumbo and a former personal sponsor of Max Verstappen, was sentenced to two years in prison on Thursday for money laundering, bribery, and forgery.

The Groningen court ruling marks a dramatic fall for the 52-year-old entrepreneur, who is expected to appeal the decision.

Van Eerd’s troubles began in 2022 when Jumbo – which operates almost exclusively in the Netherlands, with a few supermarkets in Belgium – was rocked by allegations of money laundering.

On Thursday, van Eerd was found guilty of abusing his corporate position to enrich himself, often using fabricated invoices and sponsorship schemes as cover.

The court concluded he had accepted illicit goods and services while using Jumbo’s sponsorship budget to funnel money into personal ventures, including his motocross team. One of the key beneficiaries was co-defendant Theo E, who received a three-and-a-half-year jail sentence for his role.

Motorsport Ties and a Fall from Grace

Beyond the boardroom, van Eerd was widely recognized in the international motorsport community. He had a prolific racing career, from his early Formula Ford days to competing in the FIA World Endurance Championship and five editions of the 24 Hours of Le Mans.

Driving under the Racing Team Nederland banner, van Eerd achieved podium success in the endurance classic in 2021 in the Pro-Am class.

A key supporter of Verstappen in the early stages of his career, van Eerd’s Jumbo branding featured prominently on the Red Bull driver’s helmet during several seasons.

However, the partnership was terminated at the end of 2023 when new Jumbo CEO Ton van Veen took over the company and axed its €20 million annual sponsorship budget.

Cash, Corruption, and a Tarnished Legacy

In 2022, Dutch authorities raided van Eerd’s home and Jumbo’s head office, uncovering €176,000 and €448,000 in unexplained cash respectively. He was arrested shortly after, and prosecutors accused him of creating false invoices, accepting bribes, and maintaining ties with individuals linked to drug-related crimes.

Unfortunately, the fallout led to the collapse of Racing Team Nederland, which ceased operations and sold its assets to Team WRT, while Van Eerd stepped down from his role as Jumbo CEO amid growing public scrutiny.

Following sentencing, van Eerd maintained a defiant tone.

“My working life is far from over,” he told reporters. “People suggest it is, but the opposite is true. Perhaps it’s a life reset. I am and will remain an entrepreneur.”

Despite his optimism, the conviction marks a dramatic downfall for a once-celebrated business and sporting figure whose dual careers are now overshadowed by scandal.

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Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.