This article is from the source 'guardian' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at https://www.theguardian.com/business/2016/oct/20/tesco-trial-date-executives-accounting-court

The article has changed 3 times. There is an RSS feed of changes available.

Version 0 Version 1
Tesco executives accused of fraud get trial date for next year Tesco executives accused of fraud get trial date for next year
(about 1 hour later)
Three former Tesco executives accused of fraud in relation to an accounting scandal at Britain’s biggest supermarket will go on trial next September.Three former Tesco executives accused of fraud in relation to an accounting scandal at Britain’s biggest supermarket will go on trial next September.
Christopher Bush, the former managing director of Tesco UK, Carl Rogberg, the former finance director of Tesco UK, and John Scouler, the supermarket group’s former commercial director for food, appeared at Southwark crown court for a plea and case management hearing on Thursday when the date for the full trial was set for 4 September 2017. Christopher Bush, the former managing director of Tesco UK, Carl Rogberg, the former finance director of Tesco UK, and John Scouler, the supermarket’s former commercial director for food, appeared at Southwark crown court for a plea and case management hearing on Thursday, when the date for the full trial was set for 4 September 2017.
They are all charged with one count of fraud by abuse of position and one count of false accounting. The three men could face up to 10 years in jail if found guilty of the fraud charge and seven years for false accounting. Their lawyers have said they intended to plead not guilty to the charges. They are all charged with one count of fraud by abuse of position and one count of false accounting. The three men could face up to 10 years in prison if found guilty of the fraud charge and seven years for false accounting. Their lawyers have said they intended to plead not guilty to the charges.
The allegations relate to a scandal at Tesco that left a £326m hole in its accounts.The allegations relate to a scandal at Tesco that left a £326m hole in its accounts.
The Serious Fraud Office launched a criminal investigation into accounting practices at Tesco in October 2014 after the company admitted that it had overstated profits by £263m by incorrectly booking payments from suppliers. It later revised the overstatement up to £326m. The Serious Fraud Office (SFO) launched a criminal investigation into accounting practices at Tesco in October 2014, after the company admitted that it had overstated profits by £263m by incorrectly booking payments from suppliers. It later revised the overstatement up to £326m.
The charges read out at Westminister magistrates’ court last month alleged that as senior employees at the supermarket the three men had abused their positions for personal gain. They were accused of dishonestly falsifying Tesco’s digital accounting records and its draft interim accounts by the “inputting of and/or reliance upon commercial income figures which gave a false account of the financial position of Tesco”. The charges read out at Westminister magistrates’ court last month alleged that as senior employees at the supermarket, the three men had abused their positions for personal gain. They were accused of dishonestly falsifying Tesco’s digital accounting records and its draft interim accounts by the “inputting of and/or reliance upon commercial income figures which gave a false account of the financial position of Tesco”.
The SFO investigation into Tesco is ongoing and it is still possible that further individuals could face action. However, it is understood that the former chief executive Philip Clarke, who was questioned under caution by the SFO, will not be charged. The SFO investigation into Tesco is continuing and it is possible that more individuals could face action. However, it is understood that the former chief executive Philip Clarke, who was questioned under caution by the SFO, will not be charged.
When the SFO announced it had charged the executives last month, Tesco said it continued to co-operate with the investigation. “The last two years have seen an extensive programme of change at Tesco, but given this is an ongoing legal matter, we are unable to provide any further comment at this time,” the company said. When the SFO announced it had charged the executives last month, Tesco said it continued to cooperate with the investigation. “The last two years have seen an extensive programme of change at Tesco, but given this is an ongoing legal matter, we are unable to provide any further comment at this time,” the company said.
Bush, Rogberg and Scouler will return to court on 30 May next year for a preliminary hearing. All three were released on unconditional bail.Bush, Rogberg and Scouler will return to court on 30 May next year for a preliminary hearing. All three were released on unconditional bail.