Lawyers and trustees acting to retrieve £52m removed from nine pension funds during the GP Noble fraud have got back 85% of the missing cash.
Independent trustee services (ITS) and law firm Taylor Wessing said the four year-long investigation had unravelled complex international dealings. ITS was appointed by The Pensions Regulator (TPR) in July 2008 to investigate, and it instructed Taylor Wessing to assist. A civil trial took place in May 2010 at which ITS successfully obtained judgements against 23 defendants. Assets of the pension schemes were traced through a number of jurisdictions including Switzerland, Australia, Thailand, Canada, Gibraltar, BVI and Nevis. Chris Martin, managing director of ITS said: "We are deli...
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