It was alleged that Andrew Regan (37), of Ascot, Berkshire, stole a fortune from his food supply business, Hobson, to bribe Co-op executives to secure lucrative deals.Douglas Day, QC, prosecuting, said that accountants had unearthed a so-called supply agreement relating to cash payments held in the Island while auditing Hobson.Mr Day said that Regan, who denies stealing the money from his company, went behind the backs of his board of directors to find the cash to bribe the Co-op’s chief general manager, Alan Green, and chief buyer David Chambers.
The bribes were said to be worth £1m.The trial continues.
