FSA charges former iSOFT executives

The Financial Services Authority (FSA) has charged four former executives of healthcare software company iSOFT with conspiracy to make misleading statements to the stock market.

The Financial Services Authority (FSA) has charged four former executives of healthcare software company iSOFT with conspiracy to make misleading statements to the stock market.

At the time the four were directors of iSOFT, a major supplier to the £12.7bn National Programme for IT (NPfIT) as a subcontractor to services supplier CSC. CSC is not involved in the FSA case.

Patrick Cryne, Stephen Graham, John Whelan and Timothy Whiston were granted unconditional bail and are due to appear at Southwark Crown Court on 5 February.

Australian company IBA Group, which renamed itself iSOFT Limited, acquired the UK-based iSOFT Group plc in October 2007, after the events that were the subject of the FSA investigation.

The FSA is showing increased willingness to bring cases to court as it seeks to hold individuals accountable, according to the Financial Times.

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