Beatties boss guilty on accounts
The founder of Bauger, who sparked uproar after suggesting the Beatties name should be scrapped, has been found guilty of false accounting. The founder of Bauger, who sparked uproar after suggesting the Beatties name should be scrapped, has been found guilty of false accounting. Jon Asgeir Johannesson, chief executive of the Icelandic investment group, whose investments range from Beatties owner House of Fraser to Hamleys toy store, was given a three-month suspended sentence. He was found guilty of false accounting relating to a credit invoice for £296,771. The prosecution successfully argued in a Reykjavik court that the invoice was used to falsely inflate Bauger's accounts in 2001 when it was still a public company. Mr Johannesson's defence team is believed to be planning to appeal. Of an original 40 charges, he has been acquitted or found not guilty on all but one, and has claimed the investigation was politically motivated. Read the full story in the Express & Star.
Jon Asgeir Johannesson, chief executive of the Icelandic investment group, whose investments range from Beatties owner House of Fraser to Hamleys toy store, was given a three-month suspended sentence.
He was found guilty of false accounting relating to a credit invoice for £296,771.
The prosecution successfully argued in a Reykjavik court that the invoice was used to falsely inflate Bauger's accounts in 2001 when it was still a public company. Mr Johannesson's defence team is believed to be planning to appeal.
Of an original 40 charges, he has been acquitted or found not guilty on all but one, and has claimed the investigation was politically motivated.
"Bauger remains supportive behind Jon Asgeir and continues to stand behind his innocence," a spokesman for the company said. "As far as Bauger is concerned it is business as usual."
The Bauger chief sparked a storm when, after buying Beatties owner House of Fraser, he said the Beatties name "lacked resonance" with shoppers and should be replaced.
Local pressure led to House of Fraser new boss John King visiting Beatties' flagship store in Wolverhampton in December and being handed a dossier compiled by the Express & Star full of comments from dignitaries, MPs and customers calling for the Beatties name to be retained. House of Fraser is currently retaining the Beatties identity on 11 of its stores.
