SEC Takes Action Against 13 Vendors in Ahold Case

WASHINGTON -- The Securities and Exchange Commission filed enforcement actions late last week against 13 people alleging they played a role in the a massive financial fraud at U.S. Foodservice, the division of Ahold that admitted in 2003 to overstating its profits by at least $700 million in the preceding two years.

WASHINGTON -- The Securities and Exchange Commission filed enforcement actions late last week against 13 people alleging they played a role in the a massive financial fraud at U.S. Foodservice, the division of Ahold that admitted in 2003 to overstating its profits by at least $700 million in the preceding two years. The individuals, who worked for U.S. Foodservice suppliers or their agents, were accused of signing false audit confirmations sent to them by the auditors of U.S.

Register to view the full article