Business World

Saturday 16 December 2017

Three Tesco execs up in court over €365m accounting scandal

Tesco will release interim results on Wednesday. Photo: PA
Tesco will release interim results on Wednesday. Photo: PA

Scott D'Arcy

Three former Tesco executives will appear in court in relation to the £326m (€365m) accounting scandal at the supermarket.

Carl Rogberg, 49, Chris Bush, 50, and John Scouler, 48, are charged with fraud by abuse of position and false accounting.

Lawyers acting for the three men indicated not guilty pleas to the two charges they each face when they appeared at Westminster Magistrates' Court for a preliminary hearing last month.

The supermarket's former finance chief, managing director and food commercial head were investigated for their alleged role in an accounting scandal in which Tesco was found to have inflated its profits by £326 million in 2014.

They allegedly failed to correct inaccurately inflated income figures for the supermarket, which were published to auditors, other Tesco employees and the wider market.

The Serious Fraud Office said the investigation into Tesco "remains ongoing".

Rogberg, of Chiselhampton, Oxfordshire; Bush, of High Wycombe, Buckinghamshire; and Scouler, of St Albans, Hertfordshire, who are all on bail, will appear at Southwark Crown Court for a plea hearing.

Press Association

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