Mar 2, 2018

Former Tesco executives face retrial over accounting scandal

Three former Tesco executives will face a re-trial related to a £250m accounting scandal at the retailer, the UK's Serious Fraud Office said. Carl Rogberg, former UK finance director at Tesco, Christopher Bush, former managing director of Tesco UK, and John Scouler, former UK food commercial director, had been on trial at Southwark Crown Court before a jury since September 2017. The prosecution of the three men was brought after Tesco told the stock market in September 2014 that its profit forecast had been overstated by £250m, mainly due to booking commercial income early. The three former Tesco executives were accused of failing to correct inaccurately recorded income figures for the supermarket, which were then published to auditors and Tesco employees. Under his tenure Mr Green opened several high-profile investigations and brought criminal charges against Barclays and four former directors relating to cash injections from Qatari investors in 2008.

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