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26 Jan 2010
The Serious Fraud Office has charged the finance director of a subsidiary of Torex with conspiracy to defraud, false accounting and misleading an auditor.
Christopher Ford was the finance director of Xn Checkout, a subsidiary of insolvent Torex Retail plc.
The SFO is still investigating Torex, which collapsed after an accounting black hole was discovered.
Edwin Dayan, chief technology officer and Torex board member, was also charged under the offences.
The ongoing business of Torex Retail holdings Limited and its subsidiaries are unaffected by the investigation into the historic business.
Dayan's lawyer, Jeremy Summers of Russell Jones & Walker, gave the following statement: “Mr Dayan has cooperated fully with the inquiry. He denies committing any offence and looks forward to mounting a vigorous defence in due course.”
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