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Reds' Owner In Court

Tuesday April 9 2013

Patrick Cryne Patrick Cryne

BARNSLEY Football Club's owner made his millions by fiddling an IT firm’s accounts to mislead the stock market, a court was told.

Patrick Cryne is alleged to have headed up an IT firm which 'cooked the books' to bury bad news and hoodwink investors.

The 62-year-old, together with colleagues Stephen Graham, 49, Timothy Whiston, 45, and John Whelan, 46, allegedly spun a web of lies in the published accounts of healthcare software provider, iSoft.

All four deny charges of conspiracy to make misleading statements or forecasts.

On Wednesday, Southwark Crown Court was told the plot was 'hatched in a smoke-filled room' and enabled Cryne, the firm's chief executive, and his director of operations, Graham, to become multimillionaires when they sold their shares.

Richard Latham QC, prosecuting, said the four men had deliberately included revenue from software contracts which had yet to be received in their published accounts, transforming a 'thumping loss' into a 'highly respectable profit'.

"This case is an allegation that these defendants were telling lies to then public about the financial health of their company," said Mr Latham. "In other words, burying bad news. The lies were contained in its accounts, published to the world. The accounts or books were, in effect, cooked."

Mr Latham said the plot was the result of a combination of 'arrogance, ambition, pride and greed' and alleged the conspiracy 'lasted for months and turned into years'.

Cryne has become unwell since proceedings started and was not in court.

The trial, which is expected to conclude before August, continues.

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9 Showing 9 comments

Reply Posted by Don McCarron on Tuesday April 9 2013 at 11:39
I hope you'll also be headlining the defence's case when it's stated.

Reply Posted by Fred on Tuesday April 9 2013 at 15:35
What a shame!

I've had many a good dinner party with Patrick and don't believe for one minute that he is guilty of any impropriety.
He is also a committed Tory Party member just like me.

Reply Posted by Ade on Tuesday April 9 2013 at 23:59
To me he will always be. The man that saved BFC. Good luck Mr Cryne I salute you.

Reply Posted by John on Thursday April 11 2013 at 08:55
This has all the classic hallmarks of a conspiracy against Patrick Cryne and his colleagues. His dealings in this area underpin his integrity and we shoiuld all hope that the emerging truth will vindicate him.

Reply Posted by graham on Thursday April 11 2013 at 09:35
And if it doesn't?

Reply Posted by j on Sunday April 14 2013 at 18:11
if he has done nothing wrong then why the trial

Reply Posted by baz on Sunday April 14 2013 at 18:42
why are these men on trial.when not one MP who fiddled there accounts ripping the british public off.are not what a load rubbish this counry has gone.run by.a load of divs

Reply Posted by Graham on Sunday April 14 2013 at 22:29
baz, where have you been this last couple of years. A number of MP's went to jail for fiddling their expenses, including the MP for Barnsley Central!

Reply Posted by Jack on Monday June 17 2013 at 17:03
I do not belief one word against Patrick new him from our days at Highfields School travelled to work with him in Sheffield.
Leave the honest alone why did you not persecute the Banking Fraternity with their off Balance Sheet transactions.One law for the Institutions and another for the honest working man.
Let the man build his

ipso Regulated