Sentencing hearing for ex-Norton Motorcycles boss postponed

The sentencing hearing for ex-Norton Motorcycles boss, Stuart Garner, has been postponed to a later date, The Pensions Regulator (TPR) has announced.

The new date for the hearing, which was supposed to take place at Derby Magistrates’ Court today (28 February), is yet to be determined and TPR said that it would provide an update “in due course”.

This is the second time that Garner has had a court date delayed, after his initial court hearing was postponed in November 2021.

Garner had pleaded guilty to three charges of breaching employer-related investment (ERI) rules by investing more than 5 per cent of assets from each scheme into his business, Norton Motorcycle Holdings.

Garner was accused of illegally investing money in 2012 and 2013 from three pension schemes of which he was sole trustee: Dominator 2012, Commando 2012 and Donington MC.

Under the Occupational Pension Schemes (Investment) Regulations 2005 set out in Regulation 12 (2), subject to certain exceptions, it is a criminal offence to invest more than 5 per cent of the market value of scheme resources in ERIs.

The Pensions Ombudsman previously upheld a complaint from affected members of the scheme, with Garner also denied permission to appeal the £14m pension scheme repayment.

The Work and Pensions Committee subsequently reached out to TPR to confirm its plan of action following the "shocking case", with the regulator later confirming its intent to prosecute Garner.

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