Two former Tesco executives are CLEARED of £250 million fraud and false accounting scandal after case towards them collapses

  • Chris Bush and John Scouler cleared of fraud and false accounting scandal
  • Bush was UK managing director and Scouler was meals industrial director
  • Decide tells jury as we speak that duo have been acquitted by Courtroom of Enchantment yesterday
  • Each charged in September 2016 and a primary trial was deserted in February

Mark Duell for MailOnline

Two former Tesco administrators have been cleared of fraud and false accounting after the corporate’s earnings have been overstated by £250million.

The agency’s shares plunged by practically 12 per cent, wiping £2billion off the worth, when it introduced in September 2014 that it had overstated earnings the earlier month.

A jury at Southwark Crown Courtroom in London have been informed this morning that Chris Bush, 52, and John Scouler, 50, had been acquitted on the Courtroom of Enchantment yesterday. 

Former Tesco boss Chris Bush

Former Tesco boss Chris Bush

John Scouler has been cleared of a £250million fraud and false accounting scandal

John Scouler has been cleared of a £250million fraud and false accounting scandal

Former Tesco bosses Chris Bush (left) and John Scouler (proper, each as we speak) have been cleared of a £250million fraud and false accounting scandal after the case towards them collapsed

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Bush, of Excessive Wycombe, Buckinghamshire, was Tesco’s ex-UK managing director, whereas John Scouler, St Albans, Hertfordshire, was its UK meals industrial director. 

They have been accused of being conscious of earnings being wrongly included in Tesco’s monetary information to fulfill targets and make it look financially more healthy than it was.

However trial choose Sir John Royce dismissed the case introduced by the Critical Fraud Workplace (SFO), bringing the trial to a halt after the prosecution introduced its case.

The SFO went to the Courtroom of Enchantment concerning the dismissal, however its enchantment was dismissed yesterday and the boys have been cleared by Courtroom of Enchantment judges.

The duo were accused of being aware of income being wrongly included in its financial records to meet targets and make Tesco (file picture) look financially healthier than it was

The duo were accused of being aware of income being wrongly included in its financial records to meet targets and make Tesco (file picture) look financially healthier than it was

The duo have been accused of being conscious of earnings being wrongly included in its monetary information to fulfill targets and make Tesco (file image) look financially more healthy than it was

Scouler and Bush have been every cleared of 1 rely of fraud and one other of false accounting. None of this could possibly be reported till the jury was knowledgeable.

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Throughout the trial, the jury was informed the case was a retrial, and {that a} third man, former UK finance director Carl Rogberg, is charged with similar offences however was not at present effectively sufficient to face trial.

A choice shall be made sooner or later about what motion must be taken in relation to Rogberg following the acquittals of Mr Scouler and Mr Bush.

The trial of Scouler and Bush, which started on October 8, had been anticipated to final three months. 

Bush and Scouler have been charged in September 2016. A first trial was deserted in February, shortly earlier than the jury was as a result of retire to think about its verdict.

‘It is a very vital defeat for the Critical Fraud Workplace’

By RICHARD SALLYBANKS, BCL Solicitors accomplice, representing Mr Scouler

‘We’re delighted that Mr Scouler leaves court docket as we speak figuring out that the choose, having heard the whole lot of the prosecution proof, reached the agency conclusion that he had no case to reply.

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‘That call was clearly appropriate but the SFO selected to pursue an enchantment which was rejected yesterday when the Courtroom of Enchantment refused even to grant go away.

‘We’ve got lengthy argued that the SFO’s prosecution of Mr Scouler was essentially flawed, that he mustn’t have been charged and that the SFO mustn’t have proceeded with this trial. 

‘Mr Scouler has maintained for the reason that outset of this investigation that he was not responsible of fraud and false accounting, and people near him all the time knew that to be the case.

‘We’re merely happy that, after 4 years, this has now been confirmed by the Courtroom of Enchantment upholding the choose’s resolution that he must be acquitted of all expenses. 

‘It is a very vital defeat for the SFO – and a notable win for BCL Solicitors and the 2 ex Tesco administrators.’

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