Former Tesco CEO Philip Clarke will not be charged by the Serious Fraud Office ( SEC ) with regard to the supermarket ’s accounting scandal , on the grounds of insufficient evidence . The scandal saw the company overstate its profits by £ 326 m in 2010 . Three former UK Tesco directors , Carl Smith , former finance director ; Christopher Smith , former managing director ; and John Scouler , former commercial director for food , have each been charged with fraud by abuse of office and false accounting in relation to the scandal . The charges carry potential sentences of 10 and seven years in jail respectively .
Former Tesco CEO Philip Clarke will not be charged by the Serious Fraud Office (SFO) with regard to the supermarket’s accounting scandal, on the grounds of insufficient evidence. The scandal saw the company overstate its profits by £326m in 2014. Three former UK Tesco directors, Carl Rogberg, former finance director; Christopher Bush, former managing director; and John Scouler, former commercial director for food, have each been charged with fraud by abuse of position and false accounting in relation to the scandal. The charges carry potential sentences of 10 and seven years in jail respectively.