Exclusive: Regulators ran up £6m for case that collapsed
City watchdogs spent nearly £6m on the investigation and prosecution of three former directors of iSoft whose trial collapsed last month, it emerged last night.
Tim Whiston, finance director, John Whelan, former chief executive, and Steve Graham, chief operating officer, had been accused of plotting to create “huge discrepancies” in the software firm’s accounts between October 2003 and July 2006. But the case against them was thrown out afer a retrial at Southwark Crown Court last month.
A Freedom of Information request by the law firm Pannone, which represented one of the three, revealed that the Financial Conduct Authority (FCA) – and its predecessor, the Financial Services Authority – spent £5.9m investigating and prosecuting the directors and also Patrick Cryne, the chairman, who did not stand trial due to ill health and has had his case dropped too. Read more
James Moore | The Independent | 7th August 2013
Electric car farce as councils spend £7.2m on charging points ‘that are never used’
Councils across the UK have spent more than £7.2m on charging points for electric cars over the last three years but many are not being used.
One in six councils admitted to having at least one point which has not been used at all over the past year.
Answers to Freedom of Information requests from 91 per cent of councils in the UK revealed that 139 had spent £7.21m on charging points between them since April 2010. Read more
Tara Brady | The Daily Mail | 1st August 2013