The Pensions Regulator has obtained judgment for over £13.7 million in a case concerning a substantial pensions liberation fraud involving over 245 victims. The case concerned the exercise of the Regulator’s powers under section 16 of the Pensions Act 2004, under which it is empowered to claim restitution in respect of assets knowingly misused or misappropriated from an occupational pension scheme. This is the first time that the Regulator has exercised its section 16 powers, and the decision is therefore of some significance.
Sam Chandler acted (led by Jonathan Hilliard QC) for the Pensions Regulator.
The decision can be found here.
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