27 Jan 2021
BT will be in the dock today as a long-awaited trial over its £530million accounting scandal begins in Italy.
Prosecutors in Milan claim the telecom group’s Italian unit and a network of staff sought to inflate revenues and conceal losses of £250million in a sophisticated fraud.
On trial alongside the company are 20 defendants, including two former executives.
All the accused deny charges of false accounting alleged to have been carried out in 2015 and 2016.
But the case presents another headache for BT chief executive Philip Jansen, who arrived years after the alleged incidents took place but now faces having to deal with any fallout from the trial.
By Matt Oliver, This is Money, 25 January 2021
Read more at This is Money
RiskScreen: Tackling Financial Crime with Smart Technology
You can claim CPD minutes for this content, by signing up to our CPD WalletFREE CPD Wallet