The public prosecution department has again called for jail sentences for three former executives at supermarket group Ahold for their role in a massive accounting fraud between 2000 and 2002. The fraud led to Ahold’s US earnings being inflated by almost €653 million.

In 2006, a lower court sentenced the three to suspended sentences. In a recent appeal court hearing in Amsterdam the prosecution department said a jail term was called for because the fraud ‘seriously damaged the integrity of the financial markets.’

Former CEO Cees van der Hoeven faces 15 months in jail, with five suspended. Two years ago the department had called for a 20-month sentence. Former CFO Michiel Meurs faces one year and former director Jan Andreae six months, both with four months suspended. Former supervisory board member Roland Fahlin, who was acquitted in 2006 because of a lack of evidence, faces six months suspended.

(Source: z24.nl)