Blog: Three ex-Tesco executives charged with fraud over 2014 accounting affair
Dean Best | 9 September 2016
The 2014 accounting scandal at Tesco has returned to the headlines today (9 September), with news three former executives have been charged over the affair.
In a brief statement, the UK's Serious Fraud Office said Christopher Bush, 50, Carl Rogberg, 49, and the 48-year-old John Scouler have each been charged with one count of fraud by abuse of position and one count of false accounting.
Bush was the former managing director of Tesco's UK arm, Rogberg the former finance director of the retail giant's domestic business and Scouler the ex-commercial director for food in its home market.
The charges cover alleged activity between February and September 2014.
The SFO launched a probe into Tesco's financial affairs in the autumn of 2014 after the retailer admitted in the September of that year it had over-stated its profits. The timing of the accounting of payments between Tesco and suppliers was said to be a central factor.
The SFO said its investigation into Tesco "remains ongoing".
In a statement issued today, Tesco said: "We note the decision of the SFO to bring a prosecution against former colleagues in relation to historic issues and acknowledge the investigation into the Company is ongoing. Tesco continues to cooperate with the SFO’s investigation. The last two years have seen an extensive programme of change at Tesco, but given this is an ongoing legal matter, we are unable to provide any further comment at this time."
The three men are to appear at Westminster Magistrates’ Court in London on 22 September 2016.
Sectors: Baby food, Bakery, Canned food, Cereal, Chilled foods, Condiments, dressings & sauces, Confectionery, Dairy, Dried foods, Free-from, Fresh produce, Frozen, Ice cream, Meat & poultry, Natural & organic, Private label, Seafood, Snacks, World foods
The UK's competition regulator has given the all-clear to Hain Celestial's bid to buy UK food and beverage group Orchard House Foods, nine months after the US group announced the deal....
Hershey made an unusual announcement today (20 September), sharing its own sales data for the last four weeks to assuage any possible investor concern over figures released by Nielsen....
As the UK starts to ponder what kind of a relationship it wants with the European Union post-Brexit, EU leaders have been lining up to warn that Britain will not be allowed to "cherry pick" deals and ...
Low food prices continue to hold back inflation rates in the UK as the supermarket price war continues in the face of rising import costs. ...
- Interview: Mondelez eyes sweet success in China
- The benefits of engaging staff in sustainability
- How food companies involve staff in sustainability
- Why Danone is withdrawing Dumex from Vietnam
- How PepsiCo is taking action on palm oil
- 2 Sisters chief Boparan buys Bernard Matthews
- Fonterra says value-added strategy paying off
- B&G Foods acquires ABF's US spice business
- General Mills profit falls as sales disappoint
- MP calls for probe into Bernard Matthews "sale"
- The Big 15: Strategies and Priorities of Top Packaged Food Players in Comparison
- Global Chocolate Confectionery Overview: Challenges, Opportunities and Risks
- Global Foodservice Market 2016-2020
- Global Food and Drinks Closures: Performance and Opportunities
- Fast Food Restaurants in the US - Industry Market Research Report