THREE former Tesco executives, including the former finance director of Tesco UK, have denied charges of fraud and false accounting in relation to a £326m accounting scandal at the supermarket.
Carl Rogberg, the former finance director of Tesco UK, Christopher Bush, the former managing director of Tesco UK, and John Scouler, the supermarket group’s former commercial director for food, appeared in court to answer charges of fraud by abuse of position and false accounting.
At a hearing Westminster Magistrates’ Court their lawyers indicated pleas of not guilty to all charges.
The trio were charged earlier this month by the Serious Fraud Office. The SFO launched a criminal investigation in October 2014, a week after Tesco revealed it had overstated its profits by £263m, which later increased to £326m.
They have been accused of dishonestly falsifying Tesco’s digital accounting records and its draft interim accounts by the “inputting of and/or reliance upon commercial income figures which gave a false account of the financial position of Tesco”.
CFO Kirk Davis talks to Financial Director about the challenge of unlocking the financial potential of Greene King's £774m acquisition of the Spirit Pub Company in 2015
A look at the reasons why MiFID II was introduced and how Brexit will affect the application of the legislation in the UK
The value of an intercompany agreement often only becomes apparent when things go wrong, which is why they are crucial, explains expert
“The next generation of competitors will come up like mushrooms during the night.” Dr. Stephan Hardt talks about cyber, new technology and the changing role of the CFO