Ex-Norton owner given suspended sentence over missing pensions – Law & Regulation

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In a sentencing hearing at Derby Crown Court on March 31, Garner was given a sentence of eight months suspended for two years for each of three counts of breaching employer-related investment rules, the Pensions Regulator stated.

He was also disqualified from acting as a company director for three years and ordered to pay TPR’s costs of £20,716.

The Pensions Regulator announced in August 2021 that it would prosecute Garner, who was accused of transferring £14mn of assets from three pension schemes — Donnington 2012, Commando 2012 and Donnington MC, which have 227 members between them — into his Norton business.

This is not just financial harm. I have read statement after statement on the damage you have done to the people involved

Judge Nirmal Shant

The business subsequently failed, leaving members unsure whether they would ever see any of the money owed to them.

Garner appeared before Derby Magistrates’…

Read full article at www.pensions-expert.com