Britain's biggest retailer Tesco has agreed to pay 214 million pounds in fines and compensation for investors to settle a probe over a 2014 accounting fraud that sparked the biggest crisis in its near 100-year history.
Britain's biggest retailer Tesco is in advanced talks with the Serious Fraud Office (SFO) over a plea deal that would involve it paying a large fine over its 2014 profit overstatement, Sky news said on Saturday.
Philip Clarke, the former chief executive of Tesco, will not face charges from the Serious Fraud Office (SFO) over the accounting scandal that rocked Britain's biggest retailer in 2014, his lawyer said on Monday.
Britain's grocery industry watchdog opened an investigation on Thursday into Tesco's relations with its suppliers, dealing a further blow to the battered reputation of the country's biggest supermarket.
British retailer Tesco has cleared payouts for former chief executive Phil Clarke and ex-finance chief Laurie McIlwee after its legal team advised there was no basis for continuing to withhold the payments.