Posts

Sentencing over Foodservice fraud

The ex-chief financial officer at US Foodservice, a unit of Dutch retailer Ahold, has been given three years’ probation over an accounting fraud.

Michael Resnick had pleaded guilty in September to one count of conspiracy.

The case stemmed from an inquiry into Ahold’s 2003 admission that earnings at the US business had been overstated by more than $800m (£493m)

ABN Amro makes Vietnam settlement

Dutch bank ABN Amro has paid out $4.5m (£2.2m) to try to settle a dispute with the Vietnamese authorities that have detained four of its staff

ING bank faces charges in the US

US officials have accused ING Groep of failing to properly disclose fees it earned running a $180m (£98m) New Hampshire state retirement fund.

Regulators say the Dutch bank did not disclose conflicts of interest that may have affected investment choices.

The company denies the charges and said it was cooperating with authorities

Ex-Ahold bosses guilty of fraud

The former chief executive and chief financial officer of Dutch retail giant Ahold have been found guilty of fraud.

A court in Amsterdam handed down the verdicts to Cees van der Hoeven and Michiel Meurs for their roles in one of Europe’s largest accounting scandals.

Each has been fined 225,000 euros ($286,800; £153,000) and given nine-month suspended sentences

Dutch bank fined $80 million by US regulators

U.S. regulators on Monday fined ABN Amro, the Dutch banking heavyweight, $80 million for violating U

Vedior: France in probe of staffing firms

Manpower and Vedior, the world’s second and third-largest staffing firms, are being investigated in France for alleged competition law infringement.

A spokeswoman for Manpower said the US firm was unsure what it was alleged to have done wrong, but was co-operating with French authorities.

Dutch company Vedior said it could not fully comment until investigations were completed