Ex-Tesco Director Kevin Grace Sues Former Employer for Nearly $800,000



Ex-Tesco Director Kevin Grace Sues Former Employer for Nearly $800,000



WELWYN GARDEN CITY, UK - Just months after news hit that three other executives are in the midst of a trial for alleged fraud, another Tesco exec is in hot water and looking to be recompensed for the mishap. Previously a Director at the supermarket chain, Kevin Grace has accused his former employer of unfair dismissal during its accounting scandal in 2014.

A recent article from The Times expounds the accusations, stating that Grace seeks more than £600,000, or close to $800,000, after his dismissal. The event, which occurred three years ago, came about after Grace allegedly mis-stated the retailer’s 2014 profits at a staggering £263 million. According to the article, the company let Grace go due to his "gross misconduct" and "serious negligence."

In the article, a Tesco spokesman said, "We are aware of this case and intend to strongly defend it, but are not able to comment otherwise."

In the wake of this turbulent incident, Grace has defended his innocence, much like the supermarket's other three executives who are in the throws of a trial with the Serious Fraud Office.

Tesco

“Mr. Grace’s role involved no responsibility for, or significant involvement with, Tesco’s internal financial functions, internal audit functions, or with Tesco’s external audit process. He had no responsibility or authority for approving or signing off internal management accounts or external audited accounts or deciding the time that any financial costs or benefits were accounted for,” stated a writ issued on Grace’s behalf, which claims that he was not given the opportunity to properly defend himself against the allegations.

Grace states that he was let go with only four days’ written notice by a letter accusing the former executive of "remaining silent" in regards to the accounting problems. However, Grace claims that he had no management of the accounts or their profitability and that he "responded appropriately." Reportedly, he was told that he wouldn’t face charges from the Serious Fraud Office just last year.

As Grace and his former collegues continue to wage their suits against Tesco, we will keep you updated with the latest. Until then, stay tuned to AndNowUKnow.