Ex-Wickes manager on trial
A former manager at DIY chain Wickes has gone on trial accused of making false statements to the company's former auditor Arthur Andersen.
Link: Three Wickes’ directors acquitted
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.