IT Management News

Torex whistleblower breaks cover

Tags:
Whistleblower

Graeme Wearden ZDNet.co.uk

Published: 02 Feb 2007 16:36 GMT

The identity of the whistleblower who contacted the Serious Fraud Office over the accounts of software company Torex Retail has been revealed.

Neil Mitchell, the UK software firm's suspended chief executive, issued a statement claiming that he was the "leader of the Torex whistleblowers". Mitchell, who was suspended earlier this week, said he had contacted the Serious Fraud Office (SFO), the Financial Services Authority (FSA) and the London Stock Exchange with his concerns.

Last Friday, shares in Torex Retail were suspended after it issued a profits warning. Earlier this week, the SFO raided three homes of people connected to the company.

According to the Financial Times on Friday, those homes belonged to Chris Moore, who stepped aside as Torex Retail's chairman on Wednesday; Rob Loosemore, the company's former executive chairman; and Mark Woodbridge, a close associate of Moore.

Torex Retail was created in 2004, following the merger of iSoft and Torex. iSoft, another UK software company, is closely involved with the NHS's multi-billion pound IT upgrade. iSoft is currently being investigated by the FSA and the Accountancy Investigation and Disciplinary Board.