From the courtroom: The £13.7m pension scam case

PP looks at how ten fake schemes saw 245 pension savers become victims of fraud

Hope William-Smith
clock • 9 min read

Last week, two former trustees were jailed for a total of ten years for their part in a £13.7m pensions liberation scam perpetrated, in large part, by a now-deceased businessman who employed them.

In Southwark Crown Court on 22 April, Judge Perrins acknowledged the overall defence argument presented for both Alan Barratt of Althorne, Essex and Susan Dalton of Rochdale, Lancashire - that they had not understood the role of a trustee nor the fiduciary duties that come hand in hand. PA's sister title Professional Pensions heard Judge Perrins deliver his sentence. He acknowledged that, while neither were the "mastermind" of the scam, their actions directly rendered them culpable for the losses felt by the 245 pension savers tricked into transferring their savings from legitimate workp...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Retirement

Advisers concerned about regulatory scrutiny in decumulation phase

Advisers concerned about regulatory scrutiny in decumulation phase

Retirement planning ‘dominates’ client advice requests

Isabel Baxter
clock 27 November 2024 • 3 min read
Advisers call for new products to tackle retirement planning challenges

Advisers call for new products to tackle retirement planning challenges

Retirement products ‘don’t meet modern needs’

Isabel Baxter
clock 25 November 2024 • 3 min read
How advisers can play a role in boosting wellbeing in retirement

How advisers can play a role in boosting wellbeing in retirement

A happy retirement is the 'north star'

Cecilia Furner
clock 08 November 2024 • 3 min read