Thursday 7th September, 2017
The trial of three former senior executives at Tesco accused of fraud and false accounting was adjourned on Monday until 25 September.
Christopher Bush, who was managing director of Tesco UK, Carl Rogberg, who was UK finance director, and John Scouler, who was UK food commercial director, are all charged with one count of fraud by abuse of position and one count of false accounting at Britain’s biggest retailer.
All three pleaded not guilty at a hearing on Sunday.
On 22 September 2014 the group issued a statement to the London Stock Exchange saying that during its final preparations for an interim results announcement it identified a £250m overstatement of its expected profit for the half year, mainly due to booking commercial deals with suppliers too early.
In the following weeks the company suspended eight senior members of staff including Mr Bush, Mr Rogberg and Mr Scouler.
Tesco’s shares tumbled and the company was plunged into the worst crisis in its near 100-year history.