Britain Charges Three Ex-Tesco Execs Over Accounts

LONDON, (UrduPoint / Pakistan Point News -9th Sept,2016) , (APP/AFP) - Britain's Serious Fraud Office on Friday charged three former executives of Tesco with fraud and false accounting in a criminal probe into an accounting scandal at the supermarket giant.

Carl Rogberg, Chris Bush and John Scouler -- Tesco's former UK finance chief, UK managing director and food commercial head respectively -- were charged with one account of fraud by abuse of position and one count of false accounting.

The three men will appear at Westminster Magistrates' Court on September 22, the SFO said in a statement, adding its investigation was still ongoing. The SFO launched a criminal probe into Tesco in October 2014 after the company revealed it had overstated profits by an amount which has since risen to as much as #326 million ($435 million, 386 million Euros).

The alleged activity occurred between February 2014 and September 2014, according to the SFO.