UK fraud agency charges three in Tesco accounting probe

London

BRITAIN'S Serious Fraud Office has charged three former senior Tesco executives with fraud in its investigation into accounting practices at the country's biggest supermarket chain.

A £250 million (S$450.8 million) overstatement of Tesco's first-half profits in August 2014, due to booking deals with suppliers too early, led to the suspension of eight senior members of staff in the following months.