Two charged following collapse of Torex Retail

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The Serious Fraud Office (SFO) today charged a former board member of Torex Retail and a manager at one of its subsidiaries, in connection with the collapse of the software group in 2007.

The agency named Edwin Dayan, former chief technology officer and board member at Torex Retail, and Christopher Ford, the finance director at Xn Checkout, one of the company’s subsidiaries, related to offences between March and July 2006.

The pair was charged with “offences of conspiracy to defraud, false accounting, and misleading an auditor,” the SFO said in a statement.

The wider investigation into the group’s administration is ongoing. Torex Retail, which makes electronic shop tills, collapsed in January 2007 shortly after issuing a shock profit warning.

The SFO launched the investigation shortly after alongside the City of London Police, raiding raided three houses.