iSOFT Group PLC – defending Mr Tim Whiston4.10.2013
Bark&co successfully defended the former CEO of iSOFT Group PLC, Mr Tim Whiston. The case was only the second prosecution to be brought under section 397 of the Financial Services and Markets Act (FSMA). The case hit the headlines because of the company’s troubled implementation of parts of the new NHS IT system.
The prosecution brought by the FCA (formally the FSA) resulted in the jury being unable to reach a verdict at the first trial. This case was, in the FCA’s own words “the largest case they have ever investigated” and FCA continued to pursue the prosecution through to a second trial. However, during the course of the second trial, evidence by which the FCA sought to link our client to the misleading of RSM Robson Rhodes LLP through a forged contract was discredited to the extent that the Financial Conduct Authority wholly abandoned the suggestion that Mr Whiston was linked to any forgery.
Mr Tim Whiston commented “Today’s not guilty verdict after two 4 month trials come as a relief as my name is finally cleared after 7 years of investigation and prosecution.
It is obviously disappointing that it has taken until now for the FCA to appreciate that their investigation was flawed, and that it took two lengthy trials before we received the disclosure which forced them to concede defeat.
I am hugely grateful to my legal team at Bark & Co, Bob Marshall Andrews QC & Simon Baker for their incredibly hard work. I look forward to moving forward with my life with this cloud finally lifted and with my reputation cleared”.