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January 17, 2005
Nine Charged in U.S. Foodservice Case
Charges have been filed against nine individuals accused of providing Royal Ahold’s auditors with false statements concerning its U.S. Foodservice subsidiary.
All the individuals charged were employed by food vendors doing business with U.S. Foodservice. According to the U.S. Attorney’s Office for the Southern District of New York, which filed the charges, the individuals submitted statements to Ahold’s auditors that inflated the value of rebates their firms paid to U.S. Foodservice.
These actions allegedly helped auditors certify inaccurate earnings statements that overstated Ahold’s earnings by approximately $800 million from 2000 to 2003.
According to the U.S. Attorney’s Office, each of the individuals has agreed to plead guilty to the charge of conspiring to falsify USF and Ahold’s books and records.
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