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U.S. Foodservice CFO Pleads Guilty To Conspiracy

Law360 (September 20, 2006, 12:00 AM EDT) -- A former executive at U.S. Foodservice has pled guilty to conspiracy for his role in the $800 million accounting fraud that ensnared both his company and its parent company, Dutch food service provider Royal Ahold NV.

Former chief financial officer Michael Resnick agreed to plead guilty to the single conspiracy count in exchange for the dismissal of five other criminal charges that had been filed against him, including filing false statements with the U.S. Securities and Exchange Commission and committing securities fraud.

A judge in the...
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