BusinessCompany NewsUS executive found guilty of role in Ahold fraud

US executive found guilty of role in Ahold fraud

Jury rules marketing executive participated in million-dollar fraud

Mark Kaiser, 49, the former marketing executive of
Ahold’s US-based food
distribution unit has been found guilty by a federal jury of participating in an
$800m (£419m) accounting fraud.

Kaiser worked at Ahold’s US
FoodService
unit, was found guilty on all six charges of conspiracy,
securities fraud and making false filings.

He faces a life in prison under federal sentencing guidelines.

His lawyer said he would launch an appeal.

Kaiser and US FoodService’s former chief financial officer, Michael Resnick,
were charged for their roles in the fraud at the Dutch supermarket group in July
2004 by a Manhattan grand jury.

Resnick pleaded guilty to a conspiracy charge on 18 September.

Further reading:

Prosecutor blames marketing exec for Ahold fraud

Ahold shareholders seeking £580m

Suspended sentence and fine for Ahold CFO

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