RegulationLegalFormer Tesco directors deny fraud and false accounting charges

Former Tesco directors deny fraud and false accounting charges

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

Former Tesco directors deny fraud and false accounting charges

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”.

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