USA: Two former Kmart execs charged with fraud
A yearlong federal investigation into bankrupt US retailer Kmart has led to two former executives being charged with a US$42m accountancy fraud. Enio Montini, a former senior vice president and general merchandising manager, and Joseph Hofmeister, a former divisional vice president of merchandising, were accused of making false statements to the Securities and Exchange Commission and lying about the company's earnings. A statement was issued on their behalf, calling the charges "wrong and unjust".
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- CAGNY analysis: Danone's growth strategy
- US food next wave on display at Winter Fancy Food
- Interview: A2 Milk Co. chair firm's rapid rise
- Comment: Meal kits in US - don't believe the hype
- How General Mills plans to grow - CAGNY
- Unilever 'giving serious thought to split'
- Nestle launches global sugar target
- Mead Johnson acquires Bega Cheese capacity
- Buffett: no back-up deal for Kraft Heinz
- Kraft Heinz "substantially undervalued" Unilever