Daily Management Review

Ex-Tesco Executives Have Been Accused For Committing Fraud


09/26/2016


SFO carried out an investigation against the former Tesco executives, while the final sentence is still being waited upon.



After the investigation carried out by the Serious Fraud Office, the three former executives of “Tesco” were pleaded of not being guilty of committing fraud. The charges were brought against the following a scandal that involved “a £263m black hole” in Tesco’s finances.
 
The three involved in the said case were, ex-managing director, Chris Bush, ex-director of finance, Carl Rogberg, along with the ex-director of “commercial food”, John Scouler. All the three denied the charges before the “Westminster Magistrates Court” trial.
 
The SFO brought down the charge on them on the 9th of September, accusing them for abusing their position while committing fraud by “false accounting” in between the period of February 2014 to the month of September 2014. The likewise charges, if proven guilty, send the accused behind the bars with a “prison sentence of up to 10 and seven years respectively”.
 
The accused were bailed out while they are to be present at the “Southwark Crown Court” for a “plea hearing” on the 20th of October 2016. As per Digitallook:
“In September 2015 the supermarket said it had inflated its profits by £250m, which later grew to £263m, by allegedly delaying and deducting millions of pounds from suppliers”.
 
References:
http://www.digitallook.com/







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