Sweet news for Ferrero Rocher as it is cleared in fraud case

Published on Thursday 11 June 2009 22:03

THE makers of Ferrero Rocher have been cleared at the High Court today of involvement in a near £20 million fraud.

International confectionery group Ferrero successfully defended civil fraud claims brought against it by Bank of Tokyo-Mitsubishi, UFJ and Belgium's KBC Bank.

Ferrero – the world's largest purchaser of hazelnuts – was alleged to have conspired in a fraud carried out in 2001 and 2002 by a Turkish hazelnut operation, Baskan Gida.

Mr Justice Briggs said the trial, which ran for six months, was one of "spectacularly large proportions", with 56 days of oral evidence, 30 days of submissions and trial bundles running to more than 190 files.

Mr Justice Briggs, in a 272-page judgment, ruled that all of the banks' claims against Ferrero failed.

Andrew Howell of solicitors Barlow Lyde & Gilbert, which represented Ferrero, said: "Ferrero is very pleased that the claims against it have finally been dismissed. It is unfortunate that so much time and costs have been wasted on a legal action which Ferrero considers has always been misconceived."