Two senior executives working for BT in London have been implicated in a £530 million accounting fraud at the telecoms group’s Italian division. A report on the scandal, which led to the resignation of Gavin Patterson, 51, as BT’s chief executive last year, has alleged individuals working at the group’s head office were aware of the fraud. The report prepared by prosecutors in Italy has been seen by Reuters, the news agency. The document claims that a network of people in BT’s Italian unit exaggerated revenues, faked contract renewals and invoices and invented supplier transactions to hide the true financial performance of the division and to meet targets. Prosecutors name three group executives, two of who worked in London, as suspects.
Source: The Times April 23, 2019 23:03 UTC