Serious Fraud Office's Tesco investigation to hit consumer goods giants
Probe: Persil owner Unilever is among the firms to be dragged into the accounting scandal
A number of the world’s biggest consumer goods groups are set to be interviewed by the Serious Fraud Office as part of its widening investigation into whether Tesco cooked its books.
Unilever and drinks giant Diageo are among the corporate giants to be dragged into the accounting scandal which emerged in September when Tesco revealed it a black hole in its accounts.
The SFO is expected to question staff from suppliers involved in deals with Tesco.
The supermarket giant’s own investigation found that a small group of people deliberately misled auditors and accountants to flatter its financial results to the tune of £263million.
A central part of this was booking payments paid by suppliers to display their wares prominently on its shelves – without first hitting the necessary sales targets.
Most watched Money videos
- The new Volkswagen Passat - a long range PHEV that's only available as an estate
- 'Now even better': Nissan Qashqai gets a facelift for 2024 version
- Mini unveil an electrified version of their popular Countryman
- Iconic Dodge Charger goes electric as company unveils its Daytona
- BMW's Vision Neue Klasse X unveils its sports activity vehicle future
- Skoda reveals Skoda Epiq as part of an all-electric car portfolio
- Steve McQueen featured driving famous stunt car in 'The Hunter'
- MG unveils new MG3 - Britain's cheapest full-hybrid car
- How to invest to beat tax raids and make more of your money
- BMW meets Swarovski and releases BMW i7 Crystal Headlights Iconic Glow
- Paul McCartney's psychedelic Wings 1972 double-decker tour bus
- German car giant BMW has released the X2 and it has gone electric!
- Barclays profits hit by subdued mortgage lending and...
- BHP swoops on rival Anglo American in £31bn mining megadeal
- WPP revenues shrink as technology firms cut advertising...
- Unilever sales jump as consumer giant eases price hikes
- Sainsbury's enjoys food sales boost months after...
- BUSINESS LIVE: Barclays profits slip; Sainsbury's ups...
- AstraZeneca lifted by blockbuster oncology drug sales
- Ten stocks to invest in NOW to profit from Rishi's...
- WH Smith shares 'more for patient money than fast bucks',...
- PWC partners choose another man to become their next leader
- Sitting ducks: Host of British firms are in the firing...
- LSE boss David Schwimmer in line for £13m pay deal...
- BHP launches £31bn bid for Anglo American: Audacious...
- Sainsbury's takes a bite out of rivals: We're pinching...
- Anglo-American will not vanish without a fight, says ALEX...
- Unilever in talks with the Government about ice-cream...
- MARKET REPORT: Meta sheds £130bn value after AI spending...
- Meta announces it is to plough billions into artificial...