London — Supermarket Tesco has agreed to a fine and compensation costs totalling £214m after an accounting scandal at Britain’s biggest retailer, the Serious Fraud Office said on Tuesday. Under a Serious Fraud Office deal that draws a line under the scandal stretching back three years, Tesco will not face prosecution. However, charges have previously been brought against three former Tesco executives, who will face trial over alleged fraud and false accounting. "Tesco … has, in principle, reached a deferred prosecution agreement with the UK Serious Fraud Office regarding historic accounting practice," the supermarket giant said in a statement. This "is a voluntary agreement under which Tesco Stores will not be prosecuted provided the business fulfils certain requirements, including paying a financial penalty of £129m". In addition, Tesco will compensate shareholders, to the value of about £85m in total. Tesco had been accused of overstating profits by £326m between February 2014 and...
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