Page last updated at 22:20 GMT, Wednesday, 6 January 2010

Former iSoft bosses to appear in court

NHS desktop computer and keyboard
The hugely expensive NHS computer upgrade has still not been completed

The City regulator has started criminal proceedings against four former directors of UK-based healthcare software company iSoft.

They will be charged with conspiracy to make misleading statements.

iSoft was involved in the upgrade of the National Health Service's IT systems, one of the biggest such projects in the world.

Three-and-a-half years ago the Financial Services Authority launched an investigation into the company.

Patrick Cryne, Stephen Graham, Timothy Whiston and John Whelan have been told to attend a magistrates court on 29 January.

'Irregularities'

In 2006 iSoft said the FSA would investigate possible accounting irregularities uncovered by the firm, which was engaged in an upgrade of computer systems for the NHS.

The company had been hit by a string of problems and profit warnings related to the upgrade, sending its shares crashing as it attempted to secure its short-term financial future.

Mr Cryne owns half of Barnsley Football Club, and at one time iSoft was their shirt sponsor. Mr Cryne left the business a year before irregularities were identified.

Stephen Graham, the former commercial director, was suspended in August 2006.

Firm in the clear

The financial watchdog said it had now ended investigations into the firm itself.

iSoft, based in Banbury, Oxfordshire, has since been sold to the Australian software firm IBA Health, which renamed itself iSoft after the takeover in October 2007.

The Sydney-headquartered parent group welcomed the FSA's decision to end its inquiry into the firm.

Gary Cohen, iSoft executive chairman and chief executive, said: "We co-operated fully with the investigation and welcome the FSA's decision."

He added: "None of the former iSoft Group plc directors that were investigated are employed by iSoft Group Limited or any subsidiary of the company."



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SEE ALSO
ISoft confirms takeover meetings
17 Oct 06 |  Business
'Bidders circling troubled iSoft'
28 Aug 06 |  Business
Troubled iSoft hit by 344m loss
25 Aug 06 |  Business
ISoft uncovers accounting errors
08 Aug 06 |  Business
UK watchdog probes iSoft accounts
24 Aug 06 |  Business

RELATED INTERNET LINKS
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FROM OTHER NEWS SITES
This is Money FSA gets tough against 'iSoft four' - 18 hrs ago
Bobsguide FSA launches criminal proceedings against iSOFT Group Plc directors - 22 hrs ago
The Independent Criminal charges for former iSoft directors - 34 hrs ago
Telegraph Former iSoft director Patrick Cryne speaks out over FSA charges - 35 hrs ago
Times Online FSA takes a hard line with iSoft four - 37 hrs ago



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