Pension Trustee Fights Blame In Soccer Players Advice Suit

Law360, London (December 4, 2019, 6:24 PM GMT) -- Pension administrator Alltrust Services has fought claims from St. James’s Place Wealth Management that it should be on the hook for a £15 million ($19.6 million) lawsuit brought by a group of retired soccer players over allegedly negligent investment advice.

Fourteen investors are alleging the wealth manager and one if its former partners, Alan Graham, said that they should put their money into film and small business-related investment schemes — some of which Graham allegedly had a direct interest in or received undisclosed commissions from — later deemed to be unlawful by HM Revenue & Customs. Several were made through a...

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