SFO charges another Torex accountant

ANOTHER SENIOR accountant has been charged with offences relating to the collapse of Torex Retail.

Mark Woodbridge, who was group financial accountant at Torex Retail, has been charged with false accounting and conspiracy to defraud.

Robert Loosemore, former chairman of Torex Retail, has also been charged with the offences. Legal director Nigel Horn has been charged with conspiracy to defraud.

The alleged offences took place between May 2006 and January 2007, said the Serious Fraud Office.

Earlier this year, former Torex subsidiary FD Christopher Ford was convicted of defrauding shareholders.

Torex collapsed after an accounting black hole was discovered. The SFO began investigating the company in January 2007, soon after Torex’s shares on AIM were suspended after issuing a profit warning.

The investigation is linked with the historic business, not the ongoing Torex Retail Holdings.

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