NEWS UPDATE: Global food producer Kraft Heinz hit with $62M penalty after authorities uncover three-year inflated cost savings scheme - AML Intelligence
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NEWS UPDATE: Global food producer Kraft Heinz hit with $62M penalty after authorities uncover three-year inflated cost savings scheme

By Dan Byrne for AMLi

One of the largest food and beverage companies in the world has been charged by the Securities and Exchange Commission in the United States for expense management fraud.

The Kraft Heinz Company has agreed to a $62M payout to the SEC after it was found to have misrepresented its earnings by hundreds of millions of dollars, misleading investors with improper figures as a result.

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