UK: Walker denies knowledge of Iceland fraud investigation

Malcolm Walker, the former chairman of UK frozen food group Iceland has said he had no knowledge of an investigation by the Serious Fraud Office into the company’s accounts. Weekend press reports claimed the SFO is going over Iceland’s 2000 interim results to see if profits were overstated, reported the Independent.

June 9, 2003

Malcolm Walker, the former chairman of UK frozen food group Iceland has said he had no knowledge of an investigation by the Serious Fraud Office into the company’s accounts.

Weekend press reports claimed the SFO is going over Iceland’s 2000 interim results to see if profits were overstated, reported the Independent.

Walker, who left the company two years ago, was himself the subject of an insider trading inquiry after he sold £13.5m (US$22.3m) of Iceland shares a month before the company issued a profits warning.