Three former officials of a company from West-Betuwe have been arrested for suspected international money laundering involving $1.2bn.

The Dutch public prosecution announced on Friday that that it believes they used the company to launder the money for an Indian company involved in constructing a gas pipeline.

According to the press release, the Dutch company acted as the purchasing body to buy international materials and services. But it is suspected of doubling up on invoices to declare the costs twice and then skimming the profits through the Dutch company with fake insurance contracts.

The men will appear before a court in Rotterdam today.