UK fraud office charges 3 over Tesco profits overstatement
{{#rendered}} {{/rendered}}Britain's Serious Fraud Office says it has charged three executives of supermarket chain Tesco over an accounting scandal in which the company overstated its profits.
Former finance director Carl Rogberg, ex-U.K. managing director Christopher Bush and former U.K. food commercial director John Scouler were charged Friday with fraud and false accounting. They are due to appear at a London court on Sept 22.
They are among eight Tesco executives suspended in 2014 after the company's half-year profit was overstated by some 250 million pounds ($497 million at the time) due to alleged accounting errors.
{{#rendered}} {{/rendered}}The fraud office says its investigation is continuing.
Tesco is one of the world's biggest retailers, but has struggled to compete in Britain with low-cost rivals such as Aldi and Lidl.