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29 Nov 2016

Tesco’s Philip Clarke to face no charges from SFO

Philip Clarke, the former Tesco chief executive, will not face charges from the Serious Fraud Office over the accounting scandal that blew a £326m hole in the UK retailer’s books.

The SFO has informed Mr Clarke that “following a thorough review of the evidence obtained … it has been decided not to initiate criminal proceedings on the grounds there is insufficient evidence to provide a realistic prospect of conviction” in the case, said the letter from the SFO received by Corker Binning Partner David Corker, counsel for Mr Clarke.

Read more in the FT, The Times, The Independent, The TelegraphReuters, The Guardian, Sky News, Yahoo! Finance, International Business Times, Business Insider and The Daily Mail.



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