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Pension fraudsters forced to hand over their assets after TPR probe

Ref: PN24-03

Issued: Wednesday 17 January 2024

Two convicted fraudsters have been ordered to hand over the majority of their assets after a Proceeds of Crime Act (POCA) investigation by The Pensions Regulator (TPR).

The investigation’s successful conclusion means the independent trustees running schemes affected by the fraudsters’ crimes can now take steps to further progress the claims on the Fraud Compensation Fund.

Under the POCA, Alan Barratt, 64, of Burnham Road, Althorne, Essex and Susan Dalton, 68, of Brookdale, Rochdale were ordered to pay £9,771 and £25,010 respectively at Southwark Crown Court today (Wednesday).

According to TPR investigators, the amounts represent the vast majority of Barratt and Dalton’s remaining assets. If further assets are linked to the pair, TPR can ask the court to increase the amount payable under a confiscation order.

Nicola Parish, TPR’s Executive Director of Frontline Regulation, said: “We already put fraudsters Barratt and Dalton behind bars, now we are depriving them of the remainder of their ill-gotten gains.

“Our thoughts continue to be with the pair’s victims, many of whom saw their lives devastated by Barratt and Dalton’s crimes.

“Significantly the end of the POCA proceedings brings a claim on the Fraud Compensation Fund a step nearer.”

Barratt and Dalton were jailed for a total of 10 years in April 2022 after admitting their part in a criminal enterprise that tricked more than 200 savers into transferring their pension pots into fraudulent schemes they controlled.

Barratt received a custodial sentence of five years and seven months while Dalton was sentenced to four years and eight months in prison.

If Barratt or Dalton fail to pay, they risk a further jail term and will still be liable for the ordered sums, plus interest.

The money will be returned to the affected pension schemes, which are now being run by the independent trustee Dalriada Trustees Limited.

Notes for editors

  • The Proceeds of Crime Act 2002 (POCA) sets out the legislative scheme for the recovery of money from criminal conduct following a confiscation investigation. Confiscation occurs after a conviction has taken place. The aim is to deny criminals the benefit of their criminal conduct, recover the proceeds of crime and disrupt and deter criminality.
  • The Fraud Compensation Fund pays compensation to occupational pension schemes which have lost out financially due to dishonesty.
  • 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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01273 662091

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