Former Tesco CEO Philip Clarke will not face charges over the accounting scandal at the supermarket chain, his lawyer says
Tesco disclosed in September 2014 that it had identified a £250m overstatement of first half profit, mainly due to the way it accounted for deals with commercial suppliers.
The scale of the overstatement was later raised to £263m.
David Corker, partner at law firm Corker Binning, said he had received a letter from the Serious Fraud Office (SFO) telling him Mr Clarke would not be prosecuted.
It said there was “insufficient evidence to provide a realistic prospect of conviction”.