Morris 'instigated' £52m pension scheme fraud

In his opening speech to Southwark Crown Court, prosecution counsel David Farrer QC said Morris (pictured) was at the crux of the fraud which saw two "sweeps" of millions of pounds transferred from nine failed pension schemes in August 2007 and April 2008. Farrer said Morris would have been fully aware of the fiduciary duties placed on trustees as he was the ultimate owner of independent trustee firm GP Noble - which he bought while running The Money Portal. He added: "Morris instigated the opportunity to use funds for highly risky investments from which he would make very large profi...