UK - A company director accused of defrauding a pension fund of more than £2.1m faces trial at Southwark Crown Court.
The court will decide whether Bjorn Stiedl knowingly distributed funds from the Clarion Group Retirement and Dependants Benefit Scheme in such a way that he would become the major benefactor.
Stiedl took control of the scheme when his firm, Crisum Group, acquired the sponsor, the Balfron Group, for £450,000 in March 1994.
BGL had a £4.3m scheme of deferred and pensioner members with a surplus of £884,000.
Stiedl’s trial was due to start on Wednesday.
Solicitor Paul Baxendale-Walker, who had been hired by Stiedl to handle scheme transactions, was also charged but the judge stayed the case at a preliminary hearing in June 2002.
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