Oct 3, 2017
Tesco fraud trial hears two staff quit over their concerns
The trial into alleged fraud at Tesco has heard that two members of its finance department resigned in 2014 over concerns they may be compromising their professional integrity. Tesco's former finance head, managing director and food commercial boss deny charges of fraud by abuse of position and false accounting. Problems with Tesco's accounts came to light in a regulatory announcement in September 2014, when Tesco shocked the market in admitting it had overstated profits by around £250m. Tesco has said it had incorrectly booked payments from its suppliers and has paid £85m in compensation to investors who lost out when the share price fell in the wake of the accounting revelations. She told the court that the situation had left some staff "In tears", and afraid they would compromise their professional integrity if they continued to work at Tesco. Jurors also heard that former Tesco accountant Aysen Nadiri quit her role on August 26 2014.
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