Former Ahold Exec Gets 4 Years For Accounting Fraud

Law360, New York (December 7, 2011, 7:41 PM EST) -- A former executive of a onetime Royal Ahold NV subsidiary was sentenced Wednesday to just under four years in prison for falsifying books and records in an $800 million fraud, the second sentence he has received in the 7-year-old case.

Mark Kaiser, who worked for the Dutch conglomerate's U.S. Foodservice Inc., received a 46-month prison term at an afternoon hearing before U.S. District Judge Thomas P. Griesa.

Prosecutors said that from 2000 to 2003, he helped create bonus rebates from suppliers to inflate U.S. Foodservice's reported...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.