SFO confirms DPA in principle with Tesco
28 March, 2017 | News Releases
Following the Regulatory News Service announcement by Tesco PLC today, the Serious Fraud Office confirms that it has reached an agreement with Tesco Stores Limited which, if approved by the Crown Court at a public hearing on 10 April 2017, will result in a Deferred Prosecution Agreement becoming effective.
The SFO also confirms that, if approved, the Deferred Prosecution Agreement will result in Tesco Stores Ltd paying both a financial penalty of £129m and the SFO’s full costs.
This potential DPA with Tesco Stores Limited does not address whether liability of any sort attaches to Tesco PLC or any employee or agent of Tesco PLC or Tesco Stores Ltd.
The hearing will take place at 10am on Monday, 10 April before Sir Brian Leveson, President of the Queen’s Bench Division, at the Southwark Crown Court, sitting at the Royal Courts of Justice.
The SFO will not provide further information until this hearing has concluded.
Notes to Editors:
- The strict liability rule under the Contempt of Court Act 1981 applies to a prosecution of three individuals in relation to these issues. Their trial will take place on 4 September 2017 at Southwark Crown Court.
- A contempt of court order has been made in respect of the reporting of the DPA. It provides as follows, “any report of any proposed or agreed deferred prosecution agreement between Tesco Stores Limited and the Serious Fraud Office (the DPA), shall be postponed until 11 April 2017 or until further order, unless the report also makes clear in terms that any DPA: a. concerns only the potential criminal liability of Tesco Stores Limited; and b. does not address whether liability of any sort attaches to Tesco PLC or any employee or agent of Tesco PLC or Tesco Stores Ltd.”