Tim Whiston Cleared After 7 years12.07.2013
Giles Bark-Jones acted for Mr. Tim Whiston, the former CEO of iSOFT Group plc. The FCA opened an investigation into alleged accounting irregularities at the NHS software provider in late 2006. In 2010 our client was charged along with three other former directors for conspiring to make misleading statements, contrary to section 397 (1)(a) and (2) of the Financial Services and Markets Act 2000 and section 1 of the Criminal Law Act 1977.
On Monday 8 July 2013 at Southwark Crown Court, HHJ Leonard QC formally discharged the jury in Mr. Whiston’s second trial. The reasons for the discharge cannot currently be reported.
This afternoon, we have been notified by the FCA that they do not intend to seek a third trial against Mr. Whiston. There will be a hearing next week to formally bring this long process of litigation to a conclusion.
Bark&co relays the following comment from Tim Whiston:
“Today’s not guilty verdict after two 4 month trials comes as a relief as my name is finally cleared after 7 years of investigation and prosecution.
It is obviously disappointing that it has taken until now for the FCA to appreciate that their investigation was flawed, and that it took two lengthy trials before we received the disclosure which forced them to concede defeat.
I am hugely grateful to my legal team at Bark&co, Bob Marshall Andrews QC of Carmelite Chambers and Simon Baker of 2 Bedford Row for their incredibly hard work. I look forward to moving forward with my life with this cloud finally lifted and with my reputation cleared”.