9. TESCO’s Fake Revenue
Loss: £214 million
Year: 2017
Anyone who has ever been to the island recognizes this brand. If you are living in the USA, just imagine if Walmart suddenly admitted to cooking books. That is how big the shock is. Unfortunately, there will be other candidates that are household names, too. So, what did TESCO do? Well, just lied about its revenues in 2014. The Guardian informs us they overstated the figure by “mere” 326 million pounds. The three people accused claimed they are innocent, but eventually, the company settled with SFO about a £129 million fine. We should also add the £85 million they promised to pay the investors as a way of apologizing.
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