BusinessCorporate FinanceNine charged at US Foodservice over Ahold

Nine charged at US Foodservice over Ahold

Fraud charges have been laid against nine people who worked for suppliers to disgraced supermarket group, Ahold, after US authorities accused the people of collusion in the massive accounting fraud.

Link: Ahold auditor cleared of negligence

They were accused of conspiring with executives of the US Foodservice, the US distribution subsidiary of Ahold, to create false accounts that inflated earnings by more than $800m, the Financial Times reported.

David Kelley, a member of President George W. Bush’s corporate fraud taskforce who announced the criminal charges, said: ‘Today’s charges should send a strong reminder to companies and executives across the country that it is not only a crime to falsify your own books, it is also a crime to help other companies falsify theirs.’

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