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Former company director denies pension fraud against employees

Ref: PN24-17

Issued: Wednesday 10 April 2024

A former company director has denied allegations he defrauded his workers’ pensions.

Nicholas Marks appeared at Westminster Magistrates’ Court today (Wednesday 10 April 2024) charged with one count of fraud by abuse of position in respect of employees of Clarity Products Ltd, and a further count in respect of employees of Lunar Automotive Ltd. The charges are brought under Section 4 of the Fraud Act 2006, in a prosecution brought by The Pensions Regulator.

Mr Marks, 56, of Heath Road, Beaconsfield, Buckinghamshire, pleaded not guilty to both charges.

A plea and trial preparation hearing was fixed for Wednesday 8 May 2024 at the Central Criminal Court. 

Notes for editors

Under Section 4 of the Fraud Act 2006, fraud by abuse of position:

  • A person is in breach of this section if they:
    • occupy a position in which they are expected to safeguard, or not to act against, the financial interests of another person,
    • dishonestly abuse that position, and
    • intend, by means of the abuse of that position:
      • to make a gain for themselves or another, or
      • to cause loss to another or to expose another to a risk of loss
  • A person may be regarded as having abused their position even though their conduct consisted of an omission rather than an act.

Find out more about The Pensions Regulator’s prosecution policy.

TPR is the regulator of workplace trust-based pension schemes in the UK. Our statutory objectives are to:

  • protect members’ benefits 
  • reduce the risk of calls on the Pension Protection Fund
  • promote, and to improve understanding of, the good administration of work-based pension schemes
  • maximise employer compliance with automatic enrolment duties
  • minimise any adverse impact on the sustainable growth of an employer (in relation to the exercise of the regulator’s functions under Part 3 of the Pensions Act 2004 only)

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