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Nov 29, 2016 @ 23:38

Tesco’s former CEO will NOT be charged over the company’s £326 million accounting scandal


Tesco’s former chief executive Philip Clarke will not face any charges for his role in the accounting scandal that plagued the company in 2014, said Clarke’s lawyer, according to the Financial Times.

Clarke was Tesco’s boss when it emerged that the supermarket chain had overstated its profits by an initial £263 million ($326 million), a figure that eventually rose to £326 million once the dust had settled.

Until now, Clarke has been subject to the investigations of the Serious Fraud Office, which is leading proceedings, but he has now been told he will not be subject to any charges.

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