Leslie Rosenthal, 53, who was buying manager at Wickes, appeared before the Southwark Crown Court to answer to fraud charges. He denies the accusations.
Prosecuting Attorney, Anthony Hacking QC told the court a ‘two-letter’ system was used to fool the auditors. According to the allegations, rebates from suppliers were used to inflate profits when they should have been spread over a longer period.
Four other Wickes directors, inclucing finance director Trefor Llewellyn, were cleared of fraud charges last November. They had been accused by the Serious Fraud Office of fraudulent trading and making false accounting statements.
The average cost of fraud increased 35.4% to £3.9m in 2016, compared to 2015 data
Harrison Beale & Owen will (HB&O) have a new chairman and managing director at the helm for 2017
Satvir Bungar promoted to managing director in the mergers and acquisitions team
Carolyn Brown appointed as the first head of client legal services practice RSM Legal