SFO confirms end of Deferred Prosecution Agreement with Tesco Stores Ltd
10 April, 2020 | News Releases
The Serious Fraud Office has confirmed to the courts that Tesco Stores Ltd has fulfilled the terms of its Deferred Prosecution Agreement (DPA) with the SFO, bringing an end to the SFO’s case.
Under the three year term of the DPA, Tesco Stores Ltd agreed to pay a £129m fine and £3m investigation costs, as well as implementing an ongoing compliance programme.
The SFO is satisfied that Tesco has fully complied with the terms of the DPA.
Notes to editors:
- The SFO served a Notice of Discontinuance on the Court on 7 April 2020. This can be found here.
- The SFO confirmed it had reached a Deferred Prosecution Agreement in principle with Tesco Stores Limited 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 full DPA, Statement of Facts, and Judgment from Sir Brian Leveson, can be found here.
- 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.