Former Tesco directors plead 'not guilty'

23 September 2016
Former Tesco directors plead 'not guilty'

Tesco's accounting fiasco is reaching the business end of things, as three former directors have been accused of acting in the interests of personal gain, and acting dishonestly, as they look at the charges of false accounting and fraud.

While the company continues to try and turn things around after the £263 million (plus) scandal which has hammered the supermarket giant, the directors have pleaded not guilty.

So who is being accused of what?

There's Carl Rogberg who is the former finance director of Tesco UK, Christopher Bush, who used to be the managing director of Tesco UK, and finally John Scouler, the former Tesco commercial director for food.

All three have been charged with one count of fraud by abuse of position, as well as being charged with one count of false accounting.

And there's more.

This lot have also been accused of falsifying Tesco's digital accounting records and the supermarket's 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".

This is serious stuff, and when it comes to serious fraud, there's only one office for the job.

The Serious Fraud Office (SFO) said that this (which is still 'alleged', legally speaking) all took place between February and September 2014, and if the trial finds the three guilty, they could go to prison for 10 years.

All three have pleaded not guilty to the charges, it is worth pointing out.

The SFO's investigation is still ongoing, so there could be more people being hauled in the dock.

TOPICS:   High Street News

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