SEC Charges U.S. Foodservice Vendors With Fraud

Law360, New York (January 22, 2007, 12:00 AM EST) -- Thirteen former U.S. Foodservice Inc. vendors on Monday became the latest to be charged by the U.S. Securities and Exchange Commission for their roles in a fraudulent scheme to overstated company earnings by about $700 million in 2001 and 2002.

The U.S.-based food distribution unit of Dutch retailer Royal Ahold NV was accused of inflating its promotional allowance income to $700 million for two years ending in 2003.

The SEC on Monday charged Carl Allen, Gary Bell, Donald Childers, John Crowder, Joseph Grendys, Anthony Holohan, Chris...
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