Commando 2012 pensioners
Started 1 petition
Stuart Garner ceo of now bankrupt Norton Motorcycles used 14 million pounds of people’s pension funds he obtained through fraudulent activity to set up 3 separate pension schemes and used the money to run his business and expensive lifestyle. The pension schemes were not protected by the financial authorities because he hadn’t gone through the correct procedures but stated to the pension people involved that he had done all the correct procedures and everyone’s money was safe. he used three convicted fraudsters to cold call the pension people go transfer their money into his schemes from their existing schemes and promised them a great rate on their savings and a tax free cash bonus for doing so which ended up costing the pension people fines from HMRC because this was not true. Mr Garner said he invested all the monies into Norton Motorcycles his company which is against the pension regulators rules that a pension scheme trustee can invest monies solely into their own personal businesses. A lot of the monies was used to fund personal lifestyles for his family and close friends including expensive sports cars and artworks for his stately home. since the company is now in administration it seems the people who invested unwillingly knowing the true nature of Mr Garners intentions have lost everything. Mr garner needs to be questioned over his conduct and the government have to step in go help the 280 plus people who have lost all their savings.