Three individuals have appeared in court in connection with an investigation into a £13.7m pension fraud.
Alan Barratt, Susan Dalton and Julian Hanson appeared before Westminster Magistrates’ Court today (April 13) charged with fraud by abuse of position as part of a criminal prosecution by The Pensions Regulator (TPR).
The regulator alleges that between 2012 and 2014, 245 savers were persuaded to transfer their pensions totalling £13.7m into 11 pension schemes, controlled by the three defendants.
Dalton pleaded guilty to the charge, while Barratt indicated a not guilty plea to the charge and Hanson gave no indication of a plea.
All three defendants were released on conditional bail and ordered to appear at Southwark Crown Court next month (May 11).
Barratt was arrested in Alicante, Spain, last month 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.
Last 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.
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