Bermuda-based oil tycoon jailed
Published:Tuesday | May 29, 2012 | 2:51 PM
Bermuda-based Dutch oil tycoon John Deuss has been given a six-month suspended jail sentence, after being convicted by a Dutch court of banking without a licence and not reporting unusual transactions.
He was also fined 327,000 euros.
Once dubbed one of the world's best-known oil dealers, Deuss, went on trial in Arnhem, more than five years after he was arrested in Bermuda.
According to court documents he was a part of a criminal organization through his First Curacao International Bank.
Deuss and his 65-year-old sister, Tineke, who lives in the Netherlands, both pleaded not guilty to the charges.
His sister was convicted of the same charges and received the same fine.
Both must serve two years' probation.
The bank must pay a 1.2 million euro fine.