30 May 2013

Chairman, investor and accountant of AIM listed company all convicted of conspiracy to defraud shareholders.

Chairman, investor and accountant of AIM listed company all convicted of conspiracy to defraud shareholders.

Gibson Grenfell QC, Peter Ratliff and Michael Bisgrove, instructed by the SFO, prosecuted these three defendants who had conspired together to inflate the interim financial statements of Torex Plc. False documents were created as cover for fraudulent inflation of the revenue and cash-at-bank figures. Additional money put into Torex was dressed up as a genuine transaction when in fact its source was the Chairman’s own funds secured against his Torex shares.

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