BusinessCompany NewsEx-Ahold exec gets seven years for role in fraud

Ex-Ahold exec gets seven years for role in fraud

US marketing exec was organiser of the scheme

Mark Kaiser, a former marketing executive who worked at
Ahold’s US
Foodservice
division, has been
sentenced
to seven years in prison
by a federal judge for his role in an $800m (£400m)
accounting fraud.

Based on the evidence presented in the case the judge said Kaiser ‘was the
organizer and the leader of this scheme’.

Kaiser was convicted in November 2006 of participating in a scheme to create
fake rebates from vendors to boost the company’s profits and earn bonuses.

The sentence imposed on him was higher than the federal guidelines of five
years and three months to six and a half years.

It also includes two years’ supervised release following the prison term and
a $50,000 fine.

Further reading:

Deloitte accountant censured over Ahold

US executive found guilty of role in Ahold fraud

Prosecutor blames marketing exec for Ahold fraud

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