Isoft trial latest from the Chron

Discussion in 'Bulletin Board ARCHIVE' started by Gordon Owen, Aug 8, 2012.

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  1. Gordon Owen

    Gordon Owen Well-Known Member

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    Gordon Owen, Aug 8, 2012
    #1
  2. Gimson&theBarnsleys

    Gimson&theBarnsleys Well-Known Member

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    Thanks for that...

    ...I was wondering what had happened; indeed was going to post on here to ask.
     
    Gimson&theBarnsleys, Aug 8, 2012
    #2
  3. Hem

    Hemsworth Tyke Well-Known Member

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    ao does that mean they have got away with it?
     
    Hemsworth Tyke, Aug 8, 2012
    #3
  4. Gally

    Gally Administrator Staff Member Admin

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    Gally, Aug 8, 2012
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  5. Gimson&theBarnsleys

    Gimson&theBarnsleys Well-Known Member

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    No...

    ... read the article veeeerrryyy sloooowly, it clearly states "after two weeks of deliberations the jury was unable to reach a verdict".
     
    Gimson&theBarnsleys, Aug 8, 2012
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  6. Hem

    Hemsworth Tyke Well-Known Member

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    But then it says about a retrial and PC wasnt there so would it affect him.
     
    Hemsworth Tyke, Aug 8, 2012
    #6
  7. JLWBigLil

    JLWBigLil Well-Known Member

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    A word of advice

    Be VERY careful what you write & post, seriously.
     
    JLWBigLil, Aug 8, 2012
    #7
  8. RichK

    RichK Well-Known Member

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    Surely this is positive? What different evidence are the FSA going to find to convince a jury next time?
     
    RichK, Aug 8, 2012
    #8
  9. Mrs

    MrsHallsToffeerolls Well-Known Member

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    Different jury.
     
    MrsHallsToffeerolls, Aug 8, 2012
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  10. RichK

    RichK Well-Known Member

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    Fair point.
     
    RichK, Aug 8, 2012
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  11. BFC Dave

    BFC Dave Well-Known Member

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    I should consider very carefully what you are going to post before you make any further comment on this matter.
     
    BFC Dave, Aug 8, 2012
    #11
  12. BFC Dave

    BFC Dave Well-Known Member

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    I feel that unless the FSA consider that a retrial would definitely secure a conviction then I'd be inclined to believe they will drop the charges. If they can't get a conviction with a jury, why do they think they could get one with a new one ? I'm not sure they'd risk the cost and embarrassment of two failed trials.

    With regard to Mr Cryne unless the FSA believe that they have persuasive evidence to distinguish his case from the other directors then it is likely that matter would follow suit.

    This is only my opinion and could be totally wide of the mark. It is still a difficult one to call.
     
    BFC Dave, Aug 8, 2012
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  13. Jay

    Jay Well-Known Member

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    I doubt it'll be the embarrassment, more the crippling costs. Three and a half months must have cost all sorts of people **** loads of money. The lawyers will all be happy enough mind.
     
    Jay, Aug 8, 2012
    #13
  14. andytyke

    andytyke Administrator Staff Member Admin

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    Different jury?

    surly thats not right. would have thought they would still need further evidence to convince a new jury.

    depends of a retrial is worth the cost
     
    andytyke, Aug 8, 2012
    #14
  15. Hem

    Hemsworth Tyke Well-Known Member

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    Hemsworth Tyke, Aug 8, 2012
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  16. andytyke

    andytyke Administrator Staff Member Admin

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    had to sign up to read it - here it is so save anyone else signing up



    A jury has failed to reach a verdict in a criminal case against three men by the UK’s financial regulator alleging that they fraudulently overstated financial results of their technology company.
    ​
    The Financial Services Authority now has a month to decide whether it will bring any retrial against Stephen Graham, Timothy Whiston and John Whelan, the former directors of iSoft, after a jury at Southwark Crown Court reported on Wednesday that it could not reach a verdict after two weeks of deliberations.

    The three defendants were facing a maximum of seven years in prison if found guilty of making false and misleading statements. It was the second criminal prosecution of misleading statements brought by the FSA, and the first since 2005.
    The FSA declined to comment beyond acknowledging that it was now considering its position.
    Patrick Cryne, iSoft’s former chairman and the owner of Barnsley Football Club, has been charged with the same offences by the FSA and will stand trial later this year.
    During the course of the four-month trial, which featured witnesses including Lord Digby Jones, a former trade minister, the FSA accused the defendants of misleading the market and their auditors between 2003 and 2006 through deceit and forgery.
    The case hinged on the signing of a €54.3m contract to provide the Irish health service with a new computer system. iSoft was informed by the Irish health board in February 2003 that it was the preferred bidder for the contract, subject to negotiations. It is only when a contract has been signed that its projected cash flow can be booked as revenue.

    ​
    But the FSA alleged that the revenue from the project had been booked as early as October 2003 even though the contract was not signed until April 2005.
    The defendants denied the allegations.
    A hearing will take place in September to determine whether there should be a re-trial. Anthony Barnfather at Pannone, Mr Whelan’s lawyer, expected any retrial to begin around April 2013.

    “This case is now in its seventh year,” said Mr Barnfather. “The facts that relate to the case are nearly 10 years ago and a conclusion does not seem likely for another year. John Whelan describes himself as ‘completely broken’ by the unrelenting pressure brought about by this matter subsuming his life since 2006.”
    Solicitors for Mr Whiston and Mr Graham did not immediately respond to requests seeking comment. iSoft has since been bought by Computer Sciences Corporation.
     
    andytyke, Aug 8, 2012
    #16
  17. SuperTyke

    SuperTyke Well-Known Member

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    I'd say it's more negative than positive. Due to a failure of the jury to make a decision we have one of two scenarios occuring now. One is that innocent men have still not been found innocent and allowed to get on with their lives, the second is that guilty men are still free. Neither of those are positive in my opinion.

    If Cryne is innocent then I hope he is found innocent and allowed to put all this behind him but if he is guilty I hope he spends a long time in prison and has his riches taken away from him. I'm not hoping he's found guilty or innocent, i'm hoping that the correct decision is made either way. What I really don't want to happen is for them to simply drop the case and never come to a definite conclusion. The FSA are certain they are guilty or they wouldn't have put him on trial, in my opinion they have to see it through now or they lose all credibility.
     
    SuperTyke, Aug 8, 2012
    #17
  18. andytyke

    andytyke Administrator Staff Member Admin

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    I wouldn't lose any sleep if the case was dropped
     
    andytyke, Aug 8, 2012
    #18
  19. JLWBigLil

    JLWBigLil Well-Known Member

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    But he is innocent

    He can't be found innocent. He can be found guilty, but not innocent. The onus is on the FSA to present a case, proving beyond doubt Mr Cryne is guilty. If they're incapable, then again Mr Cryne is innocent. Thinking and proving guilt are two separate issues.
     
    JLWBigLil, Aug 8, 2012
    #19
  20. Durkar Red

    Durkar Red Well-Known Member

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    The FSA don't have any credibility anyway , what may happen is that these complex cases are dealt with by Judges and not jurys.
     
    Durkar Red, Aug 8, 2012
    #20
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