Izodia

Izodia was a United Kingdom information technology company that operated under the name Izodia plc and was formerly known as Infobank. The company was listed on the London Stock Exchange before its securities later traded on the Alternative Investment Market. Publicly available reference material provides limited information about Izodia's products, leadership structure, headquarters, founding date, and commercial operations, so its business lines cannot be described reliably beyond its classification as an information technology company. Izodia's principal historical significance is associated with the fraud that led to its collapse. Gerald Smith, who held a position at the company, defrauded Izodia of approximately £34 million. The misconduct involved theft and false accounting. In 2005, Smith pleaded guilty to ten counts of theft and one count of false accounting connected with his role at Izodia, and he received an eight-year prison sentence. The fraud severely undermined the company and is reported to have contributed to Izodia going out of business. This makes Izodia an example of a formerly public British technology company whose corporate history is defined less by a surviving product portfolio or continuing brand presence than by its transformation from a listed information technology business into a failed company following financial wrongdoing. No current website, operating business, parent company, owner, or successor brand is established by the supplied reference material.

Izodia was a British information technology company that was previously known as Infobank. The available historical record identifies it as Izodia plc and states that it was listed on the London Stock Exchange before later moving to trading on the Alternative Investment Market. The supplied sources do not establish the company's precise founding year, founder, headquarters, detailed product portfolio, or the dates of its principal operating phases. The company's recorded history is dominated by a large-scale fraud. Gerald Smith defrauded Izodia of approximately £34 million in connection with his position at the company. The misconduct included theft and false accounting. In 2005, Smith admitted ten counts of theft and one count of false accounting and was sentenced to eight years in prison. The financial crime had a decisive effect on Izodia's corporate survival. Izodia subsequently went out of business, ending its operation as an information technology company and its existence as a listed-market business. Because the company is defunct and the available source material contains little information about its technology offerings or customer markets, there is insufficient evidence to identify specific products, campaigns, successor operations, or continuing brand activity.

• 2005

  Fraud guilty pleas and prison sentence

  [1]Izodiaen.wikipedia.org

  Gerald Smith pleaded guilty to ten theft charges and one false-accounting charge relating to Izodia and received an eight-year prison sentence.

• Company operated under the Izodia name

  [1]Izodiaen.wikipedia.org

  The company was known as Izodia plc and had previously operated under the name Infobank.

• Public-market listing

  [1]Izodiaen.wikipedia.org

  Izodia was listed on the London Stock Exchange and later traded on the Alternative Investment Market.

• Business failure

  [1]Izodiaen.wikipedia.org

  Izodia went out of business after the company was defrauded of approximately £34 million.

A former British information technology company with a public-market presence; its historical identity is chiefly associated with corporate IT activity and its subsequent collapse following financial fraud.

• £34 million fraud involving Izodia

  Gerald Smith defrauded Izodia of approximately £34 million while occupying a position at the company. The fraud involved theft and false accounting and was followed by Izodia's collapse.

  Source

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• Transition from London Stock Exchange listing to AIM tradingStrategy

  Background

  Izodia was first listed on the London Stock Exchange and later traded on the Alternative Investment Market.

  Action taken

  The company moved its public-market trading venue to AIM.

  Aftermath

  The available source does not provide the reason for the move or its immediate financial and operational effects.

  Source

• Cessation of businessOther

  Background

  The company suffered a fraud of approximately £34 million connected with Gerald Smith.

  Action taken

  Izodia ceased operating and went out of business.

  Aftermath

  The company became defunct; no continuing parent company, successor brand, or operating website is identified in the supplied material.

  Fraud loss. Approximately £34 million defrauded from Izodia

  Source

• Unconfirmed

  Reported2021.03.09

  1982 Ventures partners with South Korean investors[2]1982 Ventures与韩国投资机构建立合作sbr.com.sg

  1982 Ventures entered a partnership with South Korean investors Infobank, C&Venture Partners and BTC Investment. The firms signed an MoU to pursue investment collaboration in Korea and Southeast Asia and support Korean startups entering Southeast Asia.

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1. 1Izodiaen.wikipedia.org
2. 21982 Ventures与韩国投资机构建立合作sbr.com.sg