'Dishonest' Norton Motorcycles ex-owner told to return £14m to pension funds

James Phillips
clock • 3 min read
Funds were invested in the motorcycle dealer. Photo by mr.throk/Flickr. CC BY-SA 2.0
Image:

Funds were invested in the motorcycle dealer. Photo by mr.throk/Flickr. CC BY-SA 2.0

The Pensions Ombudsman (TPO) has ordered a former owner of Norton Motorcycles to pay back £14m of pension fund monies that he had invested in the struggling sponsor.

In a determination issued yesterday (24 June), Stuart Garner, as trustee of the schemes, was found to have "acted dishonestly and in breach of his duty of no conflict, his duty not to profit, and his duty...

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