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
Today (23 December) is just-food's last day before closing for Christmas. We'll return, raring to go on Tuesday 3 January - but of course there's been plenty of top-notch content that has gone live in...
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...
- 2017: three major drivers of M&A strategy
- The food market in 2017 - consumer trends and M&A
- just-food 2017 Survey - your thoughts on growth
- Food market in 2017: need-to-know US trends
- 2017 - what will shape the UK food sector?
- Premier Foods issues profit warning
- UK's Bakkavor plays down IPO "speculation"
- Kellogg to slash 250 jobs
- Mondelez sells Vegemite to Bega
- Nestle mum on Mead Johnson takeover talk