Cryne

If you are a director then you act in concert with your fellow directors. PC could also have signed the accounts as director. I haven't read into the case in any great depth but on face value it seems that income and therefore profit was was enhanced by the inclusion of anticipated income which failed to materialise.

IF and I say IF the above is correct. I have to question a) whether the accounting policy was disclosed in the accounts and b) the role of the auditors in signing off the accounts.

I wish I had more time to investigate further in a dispassionate way as the case is interesting.

 

I may have read it wrong but my understanding is that the Irish contract income did materialise but not when they said it did, they allegedly put it in the accounts before it had been signed , and if they had left it out ,at the time, they should have issued a profits warning . All this possibly inflating the share price when the shares were sold . Two sides to every story though but it will be interesting how it pans out

 

It's supposed to last four months so might not be over until after next season has started. Also a jury isn't expected in court until friday.

 

Day 2 complete in the Southwark Crown Court

back at 10 in the morning.

 

Re: Day 2 complete in the Southwark Crown Court

Does anyone on here believe he is actually innocent, and that this was all just a coincidence?

 

Re: Day 2 complete in the Southwark Crown Court

Of course he is innocent!



Until he is found guilty, of course!