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Former chairman of Oldham Athletic admits fraud Former chairman of Oldham Athletic admits fraud
(6 months later)
The former chairman of Oldham Athletic football club Chris Moore has pleaded guilty to fraud offences at a software firm that went bust in 2007.The former chairman of Oldham Athletic football club Chris Moore has pleaded guilty to fraud offences at a software firm that went bust in 2007.
Moore, who had been executive chairman of the Oxfordshire-based company Torex, pushed the business into a string of debt-fuelled acquisitions, leaving it under financial strain by mid-2006. Torex, which was listed on the junior AIM stock market, supplied touch-screen till software to high-street chains such as McDonald's and Argos.Moore, who had been executive chairman of the Oxfordshire-based company Torex, pushed the business into a string of debt-fuelled acquisitions, leaving it under financial strain by mid-2006. Torex, which was listed on the junior AIM stock market, supplied touch-screen till software to high-street chains such as McDonald's and Argos.
He admitted involvement in a conspiracy, with Torex's former chairman and the group's largest shareholder, Rob Loosemore, designed to falsely inflate the group's profits and cash position.He admitted involvement in a conspiracy, with Torex's former chairman and the group's largest shareholder, Rob Loosemore, designed to falsely inflate the group's profits and cash position.
Both men pleaded guilty to two counts of conspiracy to defraud some time ago. This can only now be reported after a case against two alleged co-conspirators got under way at Oxford crown court on Tuesday.Both men pleaded guilty to two counts of conspiracy to defraud some time ago. This can only now be reported after a case against two alleged co-conspirators got under way at Oxford crown court on Tuesday.
Counsel for the Serious Fraud Office said: "Much of this case is about cooking company books to make it look as if the company concerned is making more profit than it in fact is."Counsel for the Serious Fraud Office said: "Much of this case is about cooking company books to make it look as if the company concerned is making more profit than it in fact is."
The trial continues.The trial continues.
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