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Dutch Investigate Ahold

AMSTERDAM, The Netherlands -- Dutch prosecutors said yesterday they are investigating Royal Ahold.

Ahold is already being investigated by the U.S. Securities and Exchange Commission and a federal grand jury in New York for questionable bookkeeping practices at its U.S. Foodservice unit.

"We have received some papers from Ahold and we are looking into them," a spokesman for Dutch prosecutors, speaking on condition of anonymity, told the Associated Press. Dutch newspapers reported the inquiry is focused on how Ahold accounted for its 50-percent owned ICA joint venture in Scandinavia. Ahold allegedly withheld information from its auditors, Deloitte & Touche, and booked earnings at the subsidiary as if it was fully owned, the papers reported.
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