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Former Tesco finance executive Carl Rogberg cleared of fraud in 2014 scandal

Tesco’s former senior director Carl Rogberg on Wednesday was officially cleared of charges related to false accounting and fraud slapped on him in 2014.

Last year, the trial that began against Rogberg and former colleagues Christopher Bush and John Scouler was abandoned after the former Tesco UK finance director suffered a heart attack.

Then later in December, Bush and Scouler faced a re-trial and were acquitted.

THE 2014 SCANDAL

Back in September 2014, Tesco snowballed into a huge crisis forcing it to suspend four senior executives and call in investigators, all of it happening after the discovery of its profits being artificially inflated by £250 million.

The reports triggered a £2 billion wipeout in the value of Britain’s biggest retailer, following a whistleblower warning that supplier payments were erroneously booked, and business costs glossed over.

Then, Tesco had refused to name the individuals at the center of the investigation, but the media indicated that they were Bush, Rogberg, John Scouler, and Matt Simister.

 

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Also Read:  360 DigiTech (NASDAQ: QFIN) Q3 2020 Research Summary

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