Two Former Ahold Executives Found Guilty

Cees van der Hoeven and Michiel Meurs must also pay the equivalent of $290,000 each for their roles in an accounting scandal that came to light in 2003 and nearly pushed Ahold into bankruptcy.

Under their leadership, Ahold overstated its profit by $1.1 billion, mostly because of bookkeeping irregularities at U.S. Foodservice, the second largest American distributorship, according to the 2006 ID Top 50 Report, and other subsidiaries in Brazil, Argentina and Scandinavia. Dutch prosecutors accused the officials of exaggerating Ahold's stake in those other subsidiaries.

U.S. Foodservice's former cfo Michael Resnick and former marketing head Mark Kaiser are awaiting trial in the United States. Former ceo Jim Miller has not been charged.


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