Tesco handed £214m penalties on false accounting


Tesco supermarket has accepted a fine and compensation costs totaling £ 214 million (268 million, 247 million euros) after an accounting scandal at the UK's largest retailer, the Office of serious fraud Said Tuesday.

As part of an agreement with the SFO on a case that dates back three years, Tesco will not be prosecuted.

However, charges have already been laid against three former Tesco executives, who are facing a trial on alleged fraud and false accounting.

"Tesco has in principle reached a deferred prosecution agreement with the UK Serious Fraud Office regarding historical accounting practice," said the supermarket giant. It is a voluntary agreement under which Tesco Stores Limited will not be sued if the business meets certain conditions.



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