Four former senior managers at collapsed software house Torex Retail plc have been in court this month to face fraud charges.
Their appearance follows the conviction two years ago of Edwin Dayan and Christopher Ford, both of whom were former directors of Torex subsidiary XN Checkout and were found guilty of conspiracy to defraud.
Following further prosecutions brought by the Serious Fraud Office, former executive chairman Chris Moore and chairman Rob Loosemore pled guilty to conspiracy to defraud charges. Their plea was belatedly reported earlier this month, following the lifting of reporting restrictions, according to a story in the Oldham Evening Chronicle.
Former Torex group financial accountant Mark Woodbridge and legal director Nigel Horn remain on trial at Oxford Crown Court having denied the same charges. Prosecutor Gibson Grenfell told jurors last week that the duo had fabricated a £5m distribution deal with J Retail Software to artificially inflate company figures, reports the Cotswold Journal. The trial continues.
AIM-listed Torex Retail plc, which created and sold point-of-sale software, was placed into administration in summer 2007 following an ill-fated acquisition spree.
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