It is has only taken three and half years, but the FSA has finally started (criminal) proceedings against former directors of iSoft, the healthcare software company that was one of the key players in the government’s bungled £12.4bn upgrade of NHS computer systems.
From the FSA on Wednesday morning:
The Financial Services Authority (FSA) confirms that it has commenced criminal proceedings against four former directors of iSOFT Group Plc for the offence of conspiracy 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.
The individuals Patrick Cryne, Stephen Graham, Timothy Whiston and John Whelan have been summonsed to appear at City of Westminster Magistrates Court on 29 January 2010.
Better late than never.
Related links:
FSA probes Isoft market guidance – FT