Blog: Dean BestThree 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.

BLOG

UK food associations come together on Brexit

The plethora of food manufacturing associations in the UK has been argued by some to be an impediment to the industry coming to a coherent position on the aftermath of Brexit and on what the sector sh...

BLOG

Amazon cools talk of plans for wave of grocery stores

An update on Amazon's plans for the grocery sector. The usually reticent retailer has this week poured cold water on claims it has plans for 2,000 physical grocery stores....

BLOG

Will Amazon Go be retail "game-changer"?

Ask any FMCG executive to list the trends shaking up the sector and digital and e-commerce will be pretty high on the list. Drill down into that and Amazon will be one of the subjects in the digital s...

BLOG

UK food producers call for "best possible single market access" post-Brexit

Since Theresa May took over as UK Prime Minister in the wake of the country's referendum vote to quit the European Union, she and her ministers have been at pains not to divulge their negotiating posi...

just-food homepage



Forgot your password?