SFO starts Tesco criminal investigation
The Serious Fraud Office (SFO) is carrying out a criminal investigation into accounting irregularities at supermarket giant Tesco. Tesco says it has been “co-operating fully” with the SFO.
Last week, the supermarket announced that its profits had been overstated by £263m, up from an initial estimate, made last month, of £250m.
The inflated profit figure was the result of Tesco bringing forward rebates from suppliers. The SFO confirmed the probe, but declined to give further details.