Two sham pension 'advisers' have been imprisoned for a pension fraud worth over 20m which caused many of the victims to lose their entire pensions Five tax fraudsters ordered to pay 20m Most wanted HMRC tax fugitive jailed over 20m VA. Scam Revenue site launched by fraudsters Pension fraudsters jailed after 13m scam The fraud has had a devastating impact on the victims with many saying they are now suffering financial and mental health issues and are ashamed to have lost their savings. Barratt was a trustee for six schemes and scammed 139 victims and over 7.7 million of their savings, personally profiting by around 343,000, the judge was told. Barratt and Dalton's crimes have had a devastating impact on their victims," he said. More than 13m of pension savings were transferred, and the pair forwarded most of the money to the mastermind of the criminal enterprise, David Austin, from Guildford in Surrey. Now Im on a mission to #breakthetaboo. I would ask anyone who is contacted by a cold caller about an investment to be vigilant. 62-year-old Alan Barratt, and 66-year-old Susan Dalton, fooled individuals into redirecting their saving funds into . Fewer than one in 3,000 fraud offences committed last year resulted in . Duo jailed for 22m pension fraud that robbed victims of a future This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Delivering his judgement, Judge Perrins said both Dalton and Barratt had acted as principal points of contact for victims, earned substantial commission payments and were both aware that fraud was taking place. Following the end of the trial TPR began a criminal investigation. Barratt's lawyer, Senghin Kong, told the court his client was "profoundly sorry" and had been "a tool to be used" by the scheme's so-called mastermind, David Austin. Another man, referred to as Mr Holloway, handed over 300,000 and has been left devastated. Delivering his judgment, Judge Perrins said both Dalton and Barratt had acted as principal points of contact for victims, earned substantial commission payments, and were both aware that fraud was taking place. The trial heard that Dalton made around 126,000 from the scam, and Barratt around 343,000. A pair of fraudsters who were part of a criminal enterprise that tricked more than 200 savers into transferring their pension pots into . Rikki Nicholls (DOB: 11/05/1965) was convicted of conspiracy to defraud and money laundering at Southwark Crown Court. 3-min read Pension fraudsters Rikki Nicholls, 57, and Mark Kelly, 51 (PA and Metropolitan Police) Two heartless financial advisers who plundered. The actions of Peake and Taylor were catastrophic for those who trusted their money to them, with many having lost significant sums through their fraudulent behaviour.. But, what is involved in transitioning your auto-enrolment scheme away from your current support options? In January 2018, Austin, Dalton and Barratt wereordered at the High Court to pay back13.7mn they scammed and that judgment remains outstanding, the regulator added. Victims lost anything between 10,000 to 200,000. Now Im depressed all the time because I know Im going to have to work for the rest of my life because my pension has been stolen, he said. Fraudsters jailed for multimillion-pound pension scam VIEW COMMENTS Susan Dalton, 66, and Alan Barratt, 62 / PA Media By Elly Blake 22 April 2022 T wo fraudsters behind a multimillion-pound. The Telegraph values your comments but kindly requests all posts are on topic, constructive and respectful. March 29, 2023. A civil trial brought by TPR against Barratt, Dalton and others, took place at the High Court in 2018 after which Barratt was ordered to repay c.7.7m and Dalton c.5.9m. After being passed the leads by the call centre, Barratt and Dalton became the main point of contact for several victims during the transfer of their pensions and provided false reassurance that everything was above board and the victims money was safe. TPRs initial case alleged that between 2012 and 2014, some 245 savers were persuaded to transfer their pension savings, totalling 13.7mn, into 11 schemes managed by three defendants Barratt, Dalton and Julian Hanson. Please select which newsletters you would like to receive: to improve your user experience. "When I think about it, I get panicky. Fraudsters jailed for 13.7 million pension scam after 245 - ITVX The defendants, and other sales agents, told victims their existing pension arrangement was not giving a healthy return and transferring to a new scheme could increase their retirement savings. We use necessary cookies to make our website work. Barratt, of Burnham Road, Althorne, Essex, and Dalton, 66, of Brookdale, Rochdale, Lancashire, both admitted charges of fraud by abuse of position in breach of the Fraud Act 2006 arising from their roles as trustees of pension schemes. The average amount each person lost was 55,000, with others losing many times that amount. The court was also told how a solicitor had also been instructed to send disgruntled victims comfort letters and threaten legal action. If you continue browsing, we assume that you consent to our use ofcookies. FRAUDSTERS who conned almost 250 people out of their life savings in a multi-million-pound pension scam have been jailed. Peake was convicted of eight charges and Taylor of seven. Pension fraudsters jailed. Our successful extradition of Barratt from Spain also shows theres no haven for scammers. However, they are said to have passed most of the money to Austin, who used it to fund businesses, pay others involved in the con and enrich himself and his family. The average loss was 55,000, but some lost much more. I was putting my money into my pension. The Pensions Regulator is the regulator of work-based pension schemes in the UK . Southwark Crown Court heard how Susan Dalton, 66, and Alan Barratt, 62, conned 245 victims out of a total of 13.7 million between 2012 and 2014. Anton Taylor, of Windmill Drive, Cambridge, was convicted of eight charges following a six-week trial which began in January of this year at Southwark Crown Court. Hundreds fleeced out of millions by the rogue pension fraudsters Two fraudsters have been sentenced to prison for fleecing pension savers out of. The scams "mastermind" David Austin killed himself in 2019 after being invited for a police interview under caution, the court was told. Jane Mitchell, of the CPS, said: The harm caused by these fraudsters is immense, involving raids on the victims pension pots which wrecked their future livelihood and post-retirement plans. Pension fraudsters jailed after 13m scam - BBC News The court set a timetable under the Proceeds of Crime Act (POCA) to investigate whether any of the of the money taken in the fraud can be recovered from the defendants, with an initial hearing set for 4 November. It was funnelled offshore and funded his businesses, was used to pay others involved in the operation, and enriched himself and family members. Fraudsters jailed for a total of 10 years for 13 million pension scam Furthermore, Barratt was a trustee for seven schemes and sucked in 139 victims and over 7.7 million of their savings, personally profiting around 343,000, the judge was told. 'Britain's Pablo Escobar' arrested at home of female prison warden he enjoyed fling with in jail - but he's bailed hours later as ex-barrister dismisses 'breaches', Robert De Niro's grandson's cause of death at 19 revealed by his heartbroken mum, Shameless Health Secretary Steve Barclay heckled at 150-a-head NHS birthday meal, 'I'm losing my family home for three generations - I've lived here all my life', England U21s just one win from history as Young Lions roar through to Euros final, "I cant just lie down and accept it": Heartbreaking wish as Fiona Phillips scammed for thousands after Alzheimer's diagnosis, Coco Lee dies as tributes pour in for Mulan and Crouching Tiger Hidden Dragon star, Ray Winstone's very different career in Italy after his acting work dried up, Mystery of three young girls who fled Nazis is FINALLY solved after 84 years, Partygate Tory Shaun Bailey hides inside City Hall to dodge questions, Teen found alive after disappearing 8 years ago 'was living with his mum the whole time', Alan Titchmarsh accused of 'ruining' garden belonging to couple who fostered 150 kids, Subscribe to Daily Mirror and Sunday Mirror newspapers. Multimillion-pound pension fraud suspect changes plea to guilty; TPR narrows pursuit in pension fraud investigation; TPR takes three suspects to court over multimillion-pound fraud; Scammers ordered to pay back 13.7m; Pair of 'advisers' jailed over 20mn pension fraud; Scammer sentenced to three years in prison A man and woman who scammed 245 people out of 13.7m in pension savings have been jailed. Pension fraudsters jailed - ChandniDonan Fraudsters jailed after 2 million pensions con Pension fraudsters jailed after 13m scam | User Walls Two scammers have been imprisoned today (15 July 2022) for a pension fraud worth over 20 million which caused many of the victims to lose their entire pensions. Both tricksters, who were based in Spain, were part of a "criminal enterprise", according to The Pensions Regulator, as they cold called savers and talked them into transferring their pension. Alan Barratt and Susan Dalton pension fraudsters jailed - Euro Weekly News A pair of fraudsters who were part of a criminal enterprise that tricked more than 200 savers into transferring their pension pots into fraudulent schemes they controlled have been jailed for a. The average amount each person lost was 55,000 and some lost much more. She was jailed for 18 months in 1995 for this crime. Two fraudsters have been sentenced to prison for fleecing pension savers out of 14m after the brains behind the scam killed himself. Carl Dowling, Lead Lawyer at The Pensions Regulator, which brought the prosecution, speaks following the sentencing. In most cases they didnt declare their conflict of interest, being directors of both companies, and didnt ask permission to transfer the money. Sign up for exclusive newsletters, comment on stories, enter competitions and attend events. Id hoped to buy a little property and do it up but these scammers have put an end to that. Related articles. Pension scams ruin lives. I was a miner from 1978 to 1992, I put in 14 years of hard work, averaging about 80 hours a week. Two scammers have been imprisoned today (15 July 2022) for a pension fraud worth over 20 million which caused many. I'm not sure I will ever see that money again - I doubt it.". Barratt and Dalton admitted fraud based on their roles as pension trustees. They divorced in 1997. A civil trial brought by TPR against Barratt, Dalton and others, took place at the High Court in 2018 after which Barratt was ordered to repay c.7.7 million and Dalton c.5.9 million. The man lied to benefits bosses about his income, which included a tax-free lump sum and pension payments. Dalton and Barratt deceived banks in Britain into believing they were in the UK in order to open accounts, the court heard. Pension fraudsters face jail after 'mastermind' killed himself Behind the Headlines: Why has provider service gone to pot? A civil trial brought by The Pensions Regulator against Austin, Barratt, Dalton and others took place at the High Court in 2018, after which the trio were ordered to repay millions in ill-gotten gains. The 58-year-old was looking after her terminally ill mother when she got a text offering her cash and a better deal on her pension in return for transferring her pot. She became suspicious when she did not receive any paperwork, and was then notified that she had been the victim of a scam. *We hate spam as much as you do. The court heard how Barratt who was extradited to the UK from Spain in 2021 in connection with the fraud and Dalton were key participants in a high-value pension liberation fraud between 2012 and 2014. Passing sentence on Friday at Southwark Crown Court, Judge Gregory Perrins said the pair caused 'such misery to so many people', with victims suffering mental health problems and some even attempting suicide. During the scam, Dalton was a trustee for four fraudulent occupational pension schemes and duped 103 victims out of just over 5.9 million, taking around 126,000 for herself, the court heard. He added: Many of the victims are vulnerable by age and financial position, and as a result of the actions of these men, they have been left in severe financial difficulties. In fact, the pair directed their victims pension money to investment funds which were lucrative to themselves, via high commission payments. I have read 13 victims personal statements, they each tell a similar story, which Im sure is representative of all. 62-year-old Alan Barratt, and 66-year-old Susan Dalton, fooled individuals into redirecting their saving funds into . Susan Dalton, 66, from Lancashire, and Alan Barratt, 62, from Essex, who helped con 245 . Many victims were left with no pensions and will have to work well beyond their retirement date to provide for themselves and their families.. The judge heard Kent firefighter Glenn Perkins, who transferred 146,000 to the scammers in 2013, felt "worthless and useless" and now struggles with mental health problems. A hearing to recover what might be left of any profits will take place in November. Should big tech be able to read people's messages? This account already exists. Pauline Padden had received a text about a pension review when she was 50, and eventually transferred 45,000 - thinking she was investing in property in holiday resorts in the Caribbean. The court heard how Barratt who was extradited to the UK from Spain in 2021 in connection with the fraud and Dalton were key participants in a high-value pension liberation fraud between 2012 and 2014. With the three-year re-enrolment window coinciding for many with the total removal of commission and Active Member Discounts from pension-related products and services, as well as the introduction of the pension charge cap in April 2015, many employers will have no choice but to review their support options. Find out more, Compare the latest deals on Telegraph Media Group Mobile and Broadband. Pension fraudsters jailed - ChareseAndre Jane Mitchell of the CPS said: The harm caused by these fraudsters is immense, involving raids on the victims pension pots which wrecked their future livelihood and post-retirement plans. what you think by taking our short survey, International and organised crime, Fraud and economic crime, Proceeds of crime, Fraud and economic crime, International and organised crime, International and organised crime, Fraud and economic crime, The CPS Areas, CPS Direct, Central Casework Divisions and Proceeds of Crime, Information for prosecuting advocates including Advocate Panels, Annual reports, business plans and strategies, CPS Serious Economic Organised and International Directorate (SEOCID), COVID-19 fraudster sentenced for laundering nearly 200k from taxpayers, Ex-England footballer and criminal gang member is ordered to pay back 69,747.70 for supplying drugs, Wolverhampton man jailed after illegally selling prescription medication, Criminal gang found guilty of large-scale drug and gun running, Numerous victims defrauded of nearly 4m in a complex investment scam, SENTENCE UPDATE: Man jailed for role in running website involved in multi-million-pound fraud, Updated with sentence: Three men jailed for supplying fraudulent passports to criminals, Updated with sentence: Senior Nigerian politician jailed over illegal UK organ-harvesting plot, Two men convicted of conspiring to sell 9th century Anglo-Saxon coins, Directors Guidance to accompany the Attorney Generals Guidelines on Plea Discussions in cases of Serious or Complex Fraud, Deferred Prosecution Agreements - Code of Practice, Prosecuting Welfare and Health Fraud Cases, Jane Mitchell is a Specialist Prosecutor for. Two fraudsters have been jailed for their part in a series of scams in which 245 people lost millions of pounds in pension savings. Pension fraudsters jailed for total of 10 years for 13.7m scam After seeing an online advertisement, former coal miner Stephen OReilly, now 61, signed up for a free pension review in 2013 and was convinced to transfer around 114,000 into the Regency Pension scheme. Your email address will only be used to reply to your comment. A 'large amount' of cash was stolen from an ATM inside a Carlisle petrol station. Two fraudsters who duped people out of their life savings in a 13.7 million pension scam have been jailed. I have read 13 victims personal statements, they each tell a similar story, which Im sure is representative of all. Dad of four Stephen, who now works in an Isle of Wight bookmaker, said the scam destroyed his dream of retiring and cost his children their inheritance. According to the watchdog, Barratt received a sentence of five years and seven months while Dalton was sentenced to four years and eight months in prison. The pair were also banned from acting as company directors for eight years following a request by TPR. Something went wrong, please try again later. Find out what's new at the Crown Prosecution Service's digital News Centre. "While friends and family talk about retiring I will probably have to keep working until I'm no longer fit to do so. A court heard some had their entire pension pots stolen, while others must continue working to fund their retirement. Mark Kelly and Rikki Nicholls cynically misled pension-holders, telling them they would have safe control over their pension funds but actually transferred the funds into high risk investments, without the pension-holders consent or knowledge. What is the fastest broadband in my area? All of these claims were false the savers money was immediately put at risk, and ultimately taken by Austin, and the so-called investments were totally inappropriate and have yielded minimal if any return. Pension Scammers Jailed: 2 Pension Fraudsters Jailed after 245m Scam Two Scammers have been imprisoned for participating a series of scams that have cost 245 individuals a large number of pounds in their superannuation savings. However, instead of investing the money into intellectual property schemes they transferred it back into the Quintillion Asset Management account to prop up and sustain the business as well as pay themselves huge salaries over a three-year period. Pension scams ruin lives. . We use your sign-up to provide content in the ways you've consented to and improve our understanding of you. In 2018, Austin and Barratt were ordered to repay 7.7m and Austin and Dalton 5.9m to those who had lost out. A 2018 civil trial ordered the trio to repay millions, but the funds were largely transferred to offshore accounts and have not been recovered. However, the cash payments were taken from their savings leaving them at risk of punitive tax charges as a result of accessing their pensions before the minimum age of 55. Barratt had denied the charged, but in January changed his plea. Former mineworker Stephen O'Reilly was among their victims, lost more than 100,000, and now has to work in a bookmakers to pay his bills. Nicholls and Kelly set up a scheme named PCD Wealth & Pension Management in 2007 with the aim of transferring clients pensions to investment funds for growth. Victims of the scam have been left devastated after losing much of their life savings - and years on the money has still not been recovered. They were sentenced to a total of six years imprisonment. The fraudsters did so for their own personal gain, knowing the high-risk investments generated high commissions for them but had no concern for their victims who were losing money theyd worked all their lives for.. Both Barratt and Dalton - from Essex and Lancashire - were charged with fraud for abusing their position as trustees of the schemes. Shell companies were set up to pose as named employers for the fraudulent occupational pension schemes, while Barratt and Dalton were named as directors, the judge heard. information online. Fraudsters jailed for multimillion-pound pension scam She said the experience had left her anxious and she finds it hard to trust people. List of impostors . Fraudsters jailed for a total of 10 years for 13 million pension scam Sign up to Money Marketing news alerts and keep up-to-date with the latest developments in the UK adviser market. Pension Scammers Jailed: 2 Pension Fraudsters Jailed after 245m Scam Two Scammers have been imprisoned for participating a series of scams that have cost 245 individuals a large number of pounds in their superannuation savings. He said: What is the most striking is the impact on others which has been utterly devastating. This enabled the conspirators to take control of the pension funds. This means that we may include adverts from us and third parties based on our knowledge of you. Fraudsters jailed over 13.7m pension scam that conned 245 - LBC I am just surviving on benefits.. Provider service The saying the customer is always right has rung frequently in the reporting Money Marketing has done over the past couple of months. A man and woman who scammed 245 people out of 13.7m in pension savings have been jailed. Fraudsters jailed after 2 million pensions con. Convinced by the sales pitch, Pauline, who has worked as a critical care nurse for more than 40 years, agreed to move her funds from her workplace pension scheme into the Gresham Investment Pension Scheme. 2 Pension Fraudsters Jailed after 245m Scam Two Scammers have been imprisoned for participating a series of scams that have cost 245 individuals a large number of pounds in their superannuation savings. We also use optional cookies to improve our services and tell us if you have seen our advertising. Susan Dalton, 66, along with Alan Barratt have been jailed at Southwark Crown Court, Alan Barratt arrives at Southwark Crown Court, London, PE teacher, 30, molested 14-year-old schoolboy and bombarded him with naked Snapchats, Mum dies from accidental overdose after drinking Lemsips to manage her cough. Fraudster jailed for near 400k payment recovery scam If you suspect you have been a victim of fraud or if you believe someone is trying to access your pension, you should call Action Fraud 0300 123 2040. Mr Barratt had only a limited awareness and understanding to everything that Mr Austin was doing. Victims were promised cash incentives and high investment returns if they transferred their pensions. One in 3,000 chance of being jailed for fraud - The Telegraph People who had worked hard, saved for their future and have been robbed of their financial security. Zoouc9isy05yrm 1 day agoTwo pension fraudsters have been jailed for a combined total of more than 10 years for their roles in a scam that saw over 200 savers tricked into transferring 137m into fraudulent schemes . I have read 13 victims personal statements, they each tell a similar story, which Im sure is representative of all. 2 Pension Fraudsters Jailed after 245m Scam Two Scammers have been imprisoned for participating a series of scams that have cost 245 individuals a large number of pounds in their superannuation savings. However, the funds, most of which were transferred to offshore accounts, have never been recovered, the court was told. One victim Denis Mountford, from Birmingham, said: When I first discovered that my pension fund was rapidly diminishing and inaccessible, I was very cross with myself for trusting poor financial advisors who had taken a high percentage commission and also I was disgusted with them. Please use Chrome browser for a more accessible video player. I heard about depression, anxiety, divorce and suicide attempts. "Each account that I have read is a story of a life ruined by your actions and you should both be ashamed," he said. Damaged electric cars quarantined over fears they will explode, The great Ulez revolt drivers snub fines with 250m unpaid in a year, The companies that let you work from anywhere and how much they pay, The careers that will survive the AI revolution and pay the highest salary, When banks can close accounts and what to do if yours is affected, One small thing that can make the biggest difference to your family when you die. They were sentenced to just under six years in prison, only half of which they must serve. Two fraudsters have been sentenced to prison for fleecing pension savers out of 14m after the brains behind the scam killed himself. They coaxed vulnerable savers into schemes set up with fraudulent intentions. A solicitor was also instructed to send worried victims comfort letters and threaten legal action, the court was told. Alan Barratt and Susan Dalton, part of a scam which tricked more than 200 savers into transferring their pension pots into fraudulent schemes they controlled, have been jailed for a total of 10. Our website usescookiesto improve your user experience. By clicking Sign up you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice. A Dundee pensioner who carried out a 43,800 benefit fraud has been jailed for a year. "I felt stupid. I tell them that I can't - I cannot afford to live. Two pension fraudsters have been jailed for a combined total of more than 10 years for their roles in a scam that saw over 200 savers tricked into transferring 13.7m into fraudulent schemes. Two fraudsters were jailed today for a 14million pension scam which saw almost 250 people lose their life savings. Scammers who conned 245 people out of millions in pension savings jailed, Alan Barratt made about 343,000 from the con and Susan Dalton about 126,000, NHS nurse may have to sell house after scam. Two fraudsters behind a multimillion-pound pension scam which saw almost 250 people duped out of their life savings have been jailed. Pension fraudsters jailed over 20m scam | Accountancy Daily Please enable javascript to ensure you can use this website to its full extent. Once the savings had been transferred, the pair then passed the lions 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.

Ncs Tournament La Mirada, Average Tariff Rate By Country 2021, Unc Spring Break 2023, Articles P