Suspect In £14M Pension Fraud Case Changes Plea To Guilty

By Najiyya Budaly (January 14, 2022, 2:45 PM GMT) -- A suspect charged with fraudulently persuading almost 250 retirement savers to transfer £14 million ($19 million) out of their pension pots has changed his plea from not guilty to guilty at a crown court in London, the pensions watchdog said Friday.

Alan Barratt, from the southeast English county of Essex, pleaded guilty to a charge of fraud by abuse of position at Southwark Crown Court on Friday in a criminal prosecution brought by The Pensions Regulator.

The regulator alleged that 245 savers were persuaded to transfer a total of £13.7 million in pension savings into 11 retirement schemes controlled by Barratt...

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