SFO charges Torex subsidiary FD

The Serious Fraud
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

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