An individual has been extradited from Spain in connection with a £13.7m pension fraud in a criminal case being brought by the Pensions Regulator.
Alan Barratt was arrested in Alicante, Spain, under a European Arrest Warrant issued by Westminster Magistrates’ Court and then extradited to the UK.
According to TPR, this is the first time it has worked with the police to extradite a pension fraud suspect.
Barratt appeared at Westminster Magistrates’ Court on the weekend (March 20) where he was released on conditional bail, including to remain in the UK and surrender his passport.
The case was adjourned until April 13 when it is expected the case will be sent to the crown court.
Barratt will appear with two other people who are also charged by TPR with fraud by abuse of position arising from their roles as trustees of pension schemes.
TPR alleges that between 2012 and 2014, 245 savers were persuaded to transfer their pension savings totalling £13.7m into 11 pension schemes, controlled by the defendants.
Earlier this month (March 11), TPR set out how it will use its new powers to investigate and punish individuals who put savers’ money at risk.
TPR warned its new powers would strengthen punishment for reckless behaviour towards savers and said they should act as a deterrent for anyone intending to cause harm.
Under the new rules TPR will be able to prosecute anyone in connection with the offence and will no longer be bound by limitation periods.
amy.austin@ft.com
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