Ahold execs to be indicted
Prosecutors are expected to indict three former executives of Dutch retailer Ahold's US-based foodservice unit, including former CFO Michael Resnick, on charges of conspiracy to commit securities fraud.
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Ahold spokesman Fritz Schmuhl could not comment on the ongoing investigation, but confirmed that Ahold was cooperating fully.
Also expected to be charged are former vice president William Carter and former marketing manager Mark Kaiser, according to a report in today’s Wall Street Journal.
In February 2002, Ahold admitted that it overstated its profits by at least $500m (£317m), with the error primarily related to its American subsidiary US Foodservice.