Former U.S. Foodservice C.F.O. Gets Three Years' Probation
COLUMBIA, Md. -- Michael Resnick, the ex-c.f.o. of Ahold-owned U.S. Foodservice here, received three years' probation for his role in the unit's profit overstatement scandal, according to published reports. In September Resnick entered a guilty plea to one count of conspiracy.
Federal prosecutors in New York argued Resnick and other U.S. Foodservice officers engaged in massive accounting fraud.
Former U.S. Foodservice marketing executive Mark Kaiser was found guilty of conspiracy, fraud, and making false filings in September. Kaiser, who could receive life in prison under federal sentencing guidelines, is scheduled be sentenced in February.
The federal government has additionally charged 16 of the unit's suppliers for taking part in the fraud, which came to light in 2003. However, the government said in September that it declined to prosecute parent company Ahold in connection with the profit overstatement at U.S. Foodservice.
After a comprehensive review of its retail holdings, Ahold recently decided to sell U.S. Foodservice.
Federal prosecutors in New York argued Resnick and other U.S. Foodservice officers engaged in massive accounting fraud.
Former U.S. Foodservice marketing executive Mark Kaiser was found guilty of conspiracy, fraud, and making false filings in September. Kaiser, who could receive life in prison under federal sentencing guidelines, is scheduled be sentenced in February.
The federal government has additionally charged 16 of the unit's suppliers for taking part in the fraud, which came to light in 2003. However, the government said in September that it declined to prosecute parent company Ahold in connection with the profit overstatement at U.S. Foodservice.
After a comprehensive review of its retail holdings, Ahold recently decided to sell U.S. Foodservice.