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Former Tesco directors cleared of fraud over 2014 accounting scandal

Reuters  |  LONDON 

By James DaveyLONDON (Reuters) - Two former directors of Tesco have been acquitted of fraud and false accounting at Britain's biggest retailer after a 2014 scandal, dealing a major blow to the UK Serious Fraud Office.Christopher Bush, 52, who was managing director of Tesco UK, and John Scouler, 50, who was UK food commercial director, had been accused of wrongdoing to support Tesco's share price and secure huge compensation packages.The case, brought by the SFO, stemmed from an overstatement of Tesco's profit forecast of more than 250 million pounds ($318 million) in 2014.However, on Thursday ...

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First Published: Thu, December 06 2018. 19:04 IST
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