Wednesday, January 26, 2022

Tesco’s Kevin Grace cleared of fraud charges

Tesco‘s Kevin Grace, the former commercial director embroiled in 2014‘s accounting scandal will not face charges from the Serious Fraud Office (SFO).

Partner at Wilmer Hale law firm Stephen Pollard stated he was informed on Thursday that Grace was clear of any charges that are being brought against numerous ex-Tesco staff, but failed to provide further comment.

This follows last month‘s announcement that Philip Clarke, chief executive of Tesco during the scandal, would also not have any charges brought against him.

News of Grace‘s alleviation from the charges may mean that a charge is no longer brought against the company itself, as Grace and Clarke had been identified as the most likely route to group prosecution.

READ MORE: Tesco fraud trio plea not guilty to charges

Three former employees are still facing charges of fraud by abuse of position and false accounting  including Christopher Bush the former managing director of Tesco UK, John Scouler the former UK food commercial director and Carl Rogberg who was the former UK finance director.

A court date has been set for next September, where the trio will face charges relating to an accounting scandal in which Tesco was found to overstate its half-year profit by £250 million.

Click here to sign up to Retail Gazette’s free daily email newsletter


Please enter your comment!
Please enter your name here