Royal Ahold CEO & CFO Found Guilty Of Fraud

Law360, New York (May 22, 2006, 12:00 AM EDT) -- Two top executives have been found guilty of fraud for their roles in the near-collapse of top Dutch retailer Royal Ahold NV in 2003, but don’t deserve jail time, according to a Dutch court.

Judge Frans Baudin gave the company’s former chief executive officer, Cees van der Hoeven, and Michiel Meurs—Ahold’s chief financial officer—each a nine-month suspended sentence and a €225,000 fine. Former Ahold board member Jan Andreae received a four-month suspended sentence and a €120,000 fine, while Roland Fahlin, who had been a member of...
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