Spirits maker Diageo is facing a probe by the US Securities & Exchange Commission (SEC) into its distribution activities in America.
Diageo has a controlling interest in Desnoes & Geddes.
According to US media reports, Diageo is alleged to have sent more cases of alcohol to its clients than they required, allowing the company to report higher sales and shipments.
Diageo confirmed that it received an SEC inquiry and is working to respond fully to the Commission’s requests for information.
Sales in the US have been falling since 2011.
The inquiry comes at a sensitive moment for Diageo. In the second half of last year the world’s biggest distiller of Scotch whisky reported a sharp fall in sales in some of its key markets.
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Diageo being investigated by US Securities & Exchange Commission
11:45 am, Mon July 27, 2015
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