Following a prosecution brought by The Pensions Regulator (TPR), Alan Barratt, 62, of Burnham Road, Althorne, Essex and Susan Dalton, 66, of Brookdale, Rochdale, Lancashire, both admitted charges of fraud by abuse of position in breach of section 4 of the Fraud Act 2006 arising from their roles as trustees of pension schemes.
The pair were part of a criminal enterprise which persuaded 245 members of legitimate occupational pension schemes to transfer their pension savings, worth about £55,000 on average and with a total value of £13.7 million, into scam pension schemes under the control of the defendants.
Once the savings had been transferred, the pair then passed the lion’s share of the money to mastermind David Austin who used it for his own personal benefit, to fund his businesses, pay others involved in the pension liberation operation and enrich himself and family members. Austin, of Guildford, Surrey was part of TPR’s criminal investigation into the allegations but died in 2019, before it completed.
A civil trial brought by TPR against Austin, Barratt, Dalton and others, took place at the High Court in 2018 after which Austin and Barratt were ordered to repay c.£7.7 million and Austin and Dalton c.£5.9 million. Following the end of the trial TPR began a criminal investigation.
Where?
• Southwark Crown Court, 1 English Grounds, London SE1 2HU
• Time: expected from 10.30am on Friday 22 April
• TPR will issue a press release following sentencing and a member of TPR staff will deliver a statement outside court following the sentencing hearing. The Department for Work and Pensions will also be available for comment.
|
