Izodia plc, formerly known as Infobank, was an

information technology Information technology (IT) is a set of related fields within information and communications technology (ICT), that encompass computer systems, software, programming languages, data processing, data and information processing, and storage. Inf ...

company listed on the

London Stock Exchange The London Stock Exchange (LSE) is a stock exchange based in London, England. the total market value of all companies trading on the LSE stood at US$3.42 trillion. Its current premises are situated in Paternoster Square close to St Paul's Cath ...

and later the

Alternative Investment Market AIM (formerly the Alternative Investment Market) is a sub-market of the London Stock Exchange that was launched on 19 June 1995 as a replacement to the previous Unlisted Securities Market, Unlisted Securities Market (USM) that had been in opera ...

that went out of business after it was defrauded of £34 million by Gerald Smith. In 2005, Smith pleaded guilty to 10 counts of

theft Theft (, cognate to ) is the act of taking another person's property or services without that person's permission or consent with the intent to deprive the rightful owner of it. The word ''theft'' is also used as a synonym or informal shor ...

and one of

false accounting False accounting is a legal term for a type of fraud, considered a statutory offence in England and Wales, Northern Ireland and the Republic of Ireland. England and Wales This offence is created by section 17 of the Theft Act 1968 which provides: ...

in respect of his position at Izodia and was sentenced to eight years' imprisonment.

References

Companies established in 1993 Information technology companies of England {{UK-company-stub