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Tesco agrees 129 million pound accounting plea deal with SFO

( March 28, 2017, 07:03 GMT | Official Statement) -- MLex Summary: UK supermarket retailer Tesco Stores has agreed to pay 129 million pounds ($161.9 million) to settle Serious Fraud Office charges related to what it calls "historic accounting practices." Under the terms of the deferred prosecution agreement, which will need to be formally approved by a UK court, the company will avoid prosecution by paying the penalty. Tesco has also agreed to compensate investors with around 85 million pounds following a separate settlement agreed with the Financial Conduct Authority. The DPA covers only the potential criminal liability of Tesco Stores and does not address any potential liability of the parent company Tesco or any of its employees or agents....

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