Tesco to pay £214 million fine in UK accounting scandal

‘British multinational grocery retailer Tesco has agreed to pay £214 million ($269 million) in fines and investor compensation over its 2014 accounting scandal.
The bill includes a £129 million fine, while the rest will go to compensate investors who bought shares or bonds between August 29 and September 19 that year.
“We sincerely regret the issues which occurred in 2014, and we are committed to doing everything we can to continue to restore trust in our business and brand,” said company chief executive Dave Lewis.
The deal means Tesco will escape prosecution for the £263 million black hole it discovered in its accounts in 2014, which later grew to £326 million.’
Read more: Tesco to pay £214 million fine in UK accounting scandal