Former trustee receives suspended sentence over illegal loans

Trustee handed suspended jail term over use of scheme funds to make five illegal loans

Martin Richmond
clock • 1 min read
Former trustee receives suspended sentence over illegal loans

A former trustee of the Worthington Employee Pension Top Up Scheme has been handed a suspended jail term after he admitted using scheme funds to make illegal loans.

In a prosecution brought by The Pensions Regulator (TPR), Stephen Smith, 65, of Broughton-in-Furness, was yesterday (4 January) handed a ten-month jail term at Burnley Crown Court, suspended for 12...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Law and Regulation

TPR updates guidance to help those making third-party applications

TPR updates guidance to help those making third-party applications

Application process improved for use of certain pension powers

Jonathan Stapleton
clock 07 May 2025 • 1 min read
Government urged to compel 25% UK investment as 'quid pro quo' for tax relief

Government urged to compel 25% UK investment as 'quid pro quo' for tax relief

Baroness Altmann says bold reform will be a radical game-changer for UK growth

Jonathan Stapleton
clock 06 May 2025 • 2 min read
Pensions minister rules out retrospective change after HoC debate on clawback

Pensions minister rules out retrospective change after HoC debate on clawback

MPs say pension integration ‘is a relic from the past and needs to be abolished’

Jonathan Stapleton
clock 24 April 2025 • 5 min read
Trustpilot