Tesco Dodges a Bullet – £129m Fine to Avoid SFO Prosecution and £90m Compensation

Britain’s largest retailer, near triple the size of its nearest competitor Sainsbury manages to dodge bullet by being fined £129m as part of a DPA (Deferred Prosecution Agreement) with the SFO (Serious Fraud Office) for its 2014 false accounting scandal. Which means that Tesco avoids a formal prosecution and that the fine+ investor compensation much lower than it could have been with some estimates ranging as high as £500m, perhaps the SFO took Tesco’s distressed state into consideration as the super market giant had been in meltdown, it’s stock price having collapsed by 60% and having lost £10 billion in annual revenues to it’s competitors.
The Market Oracle

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