Daily Star

Tesco is fined £129m

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TESCO has agreed to pay a £129million fine over its accounting scandal so it can escape prosecutio­n.

The UK’s biggest supermarke­t said its subsidiary Tesco Stores had entered a deferred prosecutio­n agreement with the Serious Fraud Office.

The deal will require court approval on April 10.

The news came after the financial watchdog concluded that Tesco had committed market abuse when it inflated profits by £263m in a trading update on August 29, 2014, causing shares to rise.

Tesco chief executive Dave Lewis said the company was doing everything it could to “restore trust”.

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