The Serious Fraud Office
has received a dossier from the suspended chief executive of Torex, Neil
Mitchell, levelling five serious allegations against the Torex board and
chairman Chris Moore.
Mitchell was was suspended from the the retail software supplier last week.
His dossier is believed to have sparked an SFO raid of Moore’s home and the
homes of two other individuals, the Sunday Times reports.
Mitchell, who has turned whistleblower in the corporate scandal, alleges that
£2m in fraudulent transactions took place when Torex bought TQIPS. Mitchell
alleges further that £2m of false invoicing was undertaken in the purchase of
Moss House Group.The third allegation relates to false invoicing and and
corporate governance issues related to the acquisition of Retail-J.
Mitchell’s report also alleges that Torex recognised an inappropriate £4m
exceptional provision in 2005, which was taken into the 2006 interim profits. He
has also claimed that Moore traded share in the company when he had full
knowledge to purchase the company.
Moore said none of the allegations had been put to him, and that he was happy
to cooperate with in inquiries. His supporters are convinced of his innocence,
and believe that two indpendent audits by
will prove this.
Leonard Curtis Business Solutions Group has opened a new office in Glasgow – the first Scottish office for the professional services provider
Harrison Beale & Owen will (HB&O) have a new chairman and managing director at the helm for 2017
Satvir Bungar promoted to managing director in the mergers and acquisitions team
Carolyn Brown appointed as the first head of client legal services practice RSM Legal