Tuesday, May 5, 2009
Ferrero and Fraud
This is one tough case to crack: Ferrero accused in hazelnut fraud. Ferrero SpA is the company that makes Ferrero Rocher, Nutella, and tic tacs. In a nutshell, if the banks' lawyers are to be believed, it is a 22.8-million-euro shell game perpetrated by Turkish hazelnut companies with Ferrero's consent. Ferrero denies the charge, saying it had nothing to gain from the Turkish companies' actions. And this, of course, results in a big, er, Nutella-load of lawsuits and legal fees.