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The New York Times reports this morning that “two former executives at the supermarket chain Tesco have been acquitted of fraud and false accounting charges after a judge ruled there was not enough evidence for a jury to consider the case against them.

“The executives, Christopher Bush, who led Tesco’s British division, and John Scouler, an executive in the same unit, had been charged by Britain’s Serious Fraud Office after a 2014 investigation into accounting irregularities at the grocery chain.” Those charges stemmed from accusations that the company had understated expenses and overstated revenues.

“Tesco said at the time that it did not believe that any of those implicated had benefited personally, but eight executives were suspended and the chairman, Richard Broadbent, was forced to step down,” the Times writes, noting that Tesco also paid millions in fines.
KC's View:
Good lesson here. I’ve been very critical of Tesco’s behavior, and just assumed that these guys would be found guilty. Tesco still behaved badly, but I was wrong about Bush and Scouler … I shouldn’t have assumed anything.