WILLEMSTAD - Gerrit Schotte, former Prime Minister, has been denied a bank account following a recent court ruling. Orco Bank's decision to terminate its banking relationship with Schotte was deemed within the bank's authority.
The court ruled that the bank's interest outweighed Schotte's, citing his own negligence as the reason for this development.
Following the closure of Schotte's bank account by Orco Bank, he initiated legal proceedings, demanding the reopening and maintenance of his account. Schotte insisted that his bank card should not be canceled, and he urged the bank not to impede his banking transactions. Additionally, he requested that his access to mobile and online banking remain unrestricted.
Orco Bank's decision to close the account in May 2022 came after Schotte publicly solicited donations to his private Orco Bank account. This action was prompted by a court judgment that ordered Schotte to pay 1.8 million guilders to the Public Prosecutor's Office.
Following subsequent discussions, an agreement was reached between the involved parties, resulting in the reopening of the bank account with certain conditions. Schotte would be able to receive his salary to cover personal expenses.
However, on April 4, 2023, a meeting between Schotte and Orco Bank took place, during which Schotte requested to receive an amount of 530,000 guilders. In response, Orco Bank informed Schotte of their intention to close the account once again. They granted him until July 31 to make alternative arrangements, during which time he would only be able to access 4,000 guilders in his private account.
Despite Schotte's attempts to approach other banks over the next three months, he was unable to open a new bank account.
Orco Bank justified their termination of the banking relationship with Schotte, citing unreliable deposits and breaches of their agreement. Schotte failed to provide a concrete explanation regarding the source of the funds in question.
Furthermore, the bank emphasized its refusal to facilitate cash deposits without traceable origins. The involvement of the community in depositing money into Schotte's private account only heightened suspicions.
The court concluded that the bank's interest prevailed over Schotte's, resulting in the rejection of his demand to compel Orco Bank to keep the account open. Schotte was also ordered to bear the legal costs amounting to 1,900 guilders.