News

SFO's Deferred Prosecution with Tesco concluded

17/04/2020

On 10 April 2020, the Serious Fraud Office confirmed that Tesco Stores Ltd (Tesco) had fulfilled the terms of its Deferred Prosecution Agreement (DPA) and served a Notice of Discontinuance on the Court, bringing an end to the SFO's case.

The SFO confirmed it had reached a DPA in principle with Tesco on 28 March 2017, before entering into the DPA on 10 April 2017. The terms of the DPA ran for three years, from 10 April 2017 to 10 April 2020. The terms included Tesco agreeing to pay a £129m fine and £3m investigation costs, as well as implementing an ongoing compliance programme.

This is the third DPA to have concluded with its terms fulfilled, after Standard Bank PLC and Sarclad Ltd. The remaining four of the SFO's seven DPAs (Rolls-Royce PLC, Serco Geografix Ltd, Güralp Systems Ltd, and Airbus SE) are currently open.

https://www.sfo.gov.uk/2020/04/10/sfo-confirms-end-of-deferred-prosecution-agreement-with-tesco-stores-ltd/