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Project Sean

A former owner of Norton Motorcycles is to be prosecuted for illegally investing money into the business from three pension schemes for which he was the sole trustee.

Stuart James Garner, 52, of Park Lane, Castle Donington, Derby, is accused of breaching employer related investment (ERI) rules by investing more than 5% of assets from each scheme into his business, Norton Motorcycle Holdings Ltd.

The alleged offences are in relation to three defined contribution schemes (Dominator 2012, Commando 2012 and Donington MC) which have a total of 227 scheme members. The investments, which were made in return for preference shares, were made between 2012 and 2013.

It is a criminal offence to invest more than 5% of the current market value of scheme resources in ERIs.

Those being investigated

Stuart James Garner

Updates

31 March 2022 

Following a prosecution brought by The Pensions Regulator (TPR), Stuart James Garner was today (31 March 2022) sentenced to eight months imprisonment, suspended for two years, for each of three counts of breaching employer-related investment (ERI) rules. He was also disqualified from acting as a company director for three years and ordered to pay TPR’s costs of £20,716.

30 March 2022

The sentencing hearing in respect Stuart James Garner, 53, a former owner of Norton Motorcycles, at Derby Crown Court has been adjourned until 12pm, Thursday 31 March. 

14 March 2022

The sentencing hearing of Stuart James Garner is due to be held at Derby Crown Court on the morning of Wednesday 30 March.

The hearing was originally due to take place on Monday 28 February.

28 February 2022

The sentencing hearing of Stuart James Garner has been postponed to a later date, yet to be determined.

The hearing had been due to take place at Derby Crown Court today (Monday 28 February).

The court made the decision to postpone the case, to allow enough time to hear it in full. 

We expect the court to set a new date shortly. We will give an update in due course.

7 February 2022

Stuart James Garner, 53, of Park Lane, Castle Donington, Derby, has pleaded guilty to three charges of breaching ERI rules. Mr Garner is due to appear at 10am on 28 February at Derby Crown Court for sentencing. 

12 November 2021

The court summons of Stuart James Garner, 52, of Park Lane, Castle Donington, Derby, has been postponed to Monday 7 February 2022 at 12pm at Derby Magistrates’ Court. The court hearing was originally due to take place on Monday 15 November 2021.

20 August 2021

Mr Garner has been summoned to appear at Derby Magistrates’ Court on 15 November charged with three separate ERI offences under section 40(5) of the Pensions Act 1995 – one in relation to each scheme.

Further support

If you believe that you are a victim of this case, contact the City of London Police Victim Care Unit. Email: fraudhubvcu@cityoflondon.pnn.police.uk. Telephone: 020 7601 6968 (this is a dedicated phone number with a voicemail facility).

If you have any queries relating to your membership of the scheme, contact Dalriada Trustees. Email: nortonadmin@dalriadatrustees.co.uk. Telephone: 028 9041 2891. Post: Dalriada Trustees Limited, Linen Loft, 27-37 Adelaide Street, Belfast BT2 8FE.

For more information, such as copies of previous announcements issued by Dalriada and important scheme documents, go to Dalriada Trustees members’ website.

Help and support for victims of crime is available from Victim Support.

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