The Channel logo


By | John Oates 31st January 2007 11:00

SFO raids Torex addresses

Oh dear...

The Serious Fraud Office (SFO) has raided three addresses connected to Torex Retail, the troubled software supplier already facing investigation from the London Stock Exchange (LSE), after a shock profit warning on 26 January.

The SFO is investigating along with the City of London police.

A statement on the SFO website said a residential address in Oxfordshire was raided on Monday evening. On Tuesday morning there were simultaneous raids on an address in Warwickshire and a second address in Oxfordshire. No one was arrested.

Torex has hired specialist accountants from KPMG to help patch the hole in its accounts after announcing its outturn for the 2006 financial year is likely to be significantly below market expectations. Torex asked the LSE to suspend its shares while the investigation is going on.

The company provides point of sale and inventory systems to shops and petrol stations. ®

alert Send corrections


Huge Clouds Ocean

Chris Mellor

Tech Unplugged sees Reg presenter unplugged


Boats storm girl photo via Nikolina Mrakovic
The puppets from Team America: World Police gather at a bar for drinks.
Child measuring image via Shutterstock
VMware, Hyper-V… XenServer? The choice is yours