Jan 24, 2019

I was made a scapegoat, says ex-Tesco director

Tesco's former UK finance director feels he was made a scapegoat for the retailer's accounting scandal that wiped £1bn off the company's value. A deferred prosecution agreement allowed Tesco Stores Ltd to avoid prosecution. "The deal between Tesco and the SFO was a convenient way to put an end to the story - for the SFO to claim a sort of victory in achieving a DPA, and for Tesco to say we've moved on and say, well that's the end of it." Tesco insists its decision to enter into the DPA was made after a detailed investigation. Mr Rogberg learned of the looming crisis when he was called to Tesco HQ on the evening before the company informed the stock market about its profits misstatement.

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