Torex Three Face Trial

Posted: 10th June 2011

Three former directors of software company Torex will face criminal charges brought by the Serious Fraud Office. The company’s former chairman, accountant and legal director will have to answer to charges of conspiracy to defraud.
In January, two other former directors of the company were convicted of the same offence after the company had reported more than £1.6 million in fictitious profits in the company’s accounts for 2005 and 2006. The two were jailed in February, disqualified from acting as company directors and ordered to make contributions to the costs of their prosecutions.
The fraud came to light when the (then) chief executive discovered it and acted as ‘whistle blower’.