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I
mageTheformerTes
coex
e c
uti
veChri
st
opherBus
h,l
eft
,andasecondformercompanye
xecut
ive
,John
S
coul
er,we
r ecl
ear
edofc
rimina
lcha
rgesst
emmingfr
oma cc
ount
ingir
regula
rit
iesa
ttheg
roc
e r
ychain.

ByAmi
eTs
ang

De
c.6,
2018

LONDON— Twof or
merexecuti
vesatthesupermarke
tc hainTesc
oha ve
beenac
qui
ttedoffr
audandfal
sea c
counti
ngc har
gesaft
e rajudgerul
ed
the
rewasnotenoughev
idenceforajuryt
oc onsi
derthec a
sea g
ainst
the
m.

T
hee x
ecut
iv e
s,Chri
st
opherBush,
whol edTesco’
sBri
ti
shdi
vis
ion,a
ndJohnScoul
er,
a ne
xecut
ivei
nthe
s
ameunit,hadbe encha
rgedbyBri
tai
n’sSe
riousFra
udOffi
ceaft
era2014inv
esti
gat
ioni
ntoacc
ounti
ng
i
rr
egul
ari
ti
e satthegr
ocerycha
in.

“WhileIamde l
ig
ht e
dtha
tmyi nnoce
ncehasf
inal
lybeenesta
bli
she
d,itist
roubli
ngt
hatMr.Scoul
erand
Iwe r
ee ve
rc harged,
”Mr.Bushsai
dinasta
tement.“Putsi
mply,
thes
ec har
gesshoul
dneverhavebeen
brought,andseri
ousquest
ionsshoul
dbeaskedaboutthewayinwhic
ht heS.
F.O.ha
sconduct
e dt
his
i
nv es
tig
ati
on. ”

I
nane
mai
l
eds
tat
eme
nt,
thel
awf
ir
mre
pre
sent
ingMr
.Sc
oul
erof
fer
edas
imi
l
arr
espons
e.

“Weha v
el ongarguedthatt
heS.F.
O.’
spros
ecuti
onofMr .
Scoul
erwasf
undame
ntal
l
yfl
awed,tha
the
shoul
dnotha vebe e
nc ha
rgedandthatt
heS.F
.O.shoul
dnothavepr
oceede
dwit
hthi
str
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,
”thefi
rm,
BCLSol
ici
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aidinthesta
tement.

Thei
nquir
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saccount
scove
redaperi
odofabouts
eve
nmonthsin2014.
Itwasopene
dafter
t
hec ompanyannouncedthati
thadover
sta
tedi
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ofi
tsbymoret
han250mill
i
onpounds(a
bout$320
mil
li
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entrates
).
Ati
ssuewasthebooki
ngofprof
it
sprematur
elyandde l
aysi
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ngex
pensest
opadoutres
ult
s.T
esco
sai
datthet
imethati
tdidnotbel
iev
ethatanyoft hos
eimpl
icat
edhadbenef
it
edpers
onal
l
y,butei
ght
exec
uti
vesweresus
pendedandthechai
rman,Ri
c hardBr
oadbent,
wasfor
cedtost
epdown.

Tesc
oa c
ceptedresponsi
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it
yforfal
seaccount
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nMa rch2017throughadef
err
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pros
ecuti
onag r
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dt opayape nal
tyof£129mill
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tals
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r e
edtopayanest
imate
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£85mill
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torsaf
terar e
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rre
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alConductAuthori
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nsalesinthefi
nancia
lyearthatende dFeb.24,dominate
sBr it
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s
upermarketsect
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