The Pensions Regulator (TPR) is carrying out seven criminal investigations into potential scams with indicative losses to savers' pensions of around £55m, the pensions watchdog has revealed.
In a letter to Work and Pensions Committee (WPC) chairman Frank Field, TPR chief executive Charles Counsell confirmed that the investigations cover 52 schemes and 38 suspects which the regulator is treating as targets. Counsell also noted that these cover a "range of complexities and possible outcomes" - including potential charges of fraud, money laundering and employer-related investments. The letter comes in response to a WPC evidence hearing on 26 June, in which Counsell promised a follow-up in writing on a number of issues which were discussed at the session. TPR's use of fron...
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