Insolvency Service shuts five pension liberation firms

Investigations found the companies had obtained more than £128m from members and by shutting them down, the Insolvency Service prevented a further loss of at least £107m. The Insolvency Service said also planned to prevent the directors of such scam companies from setting up new companies where there has been evidence of wrongdoing. The director of Carrington Wire Limited (CWL), for example, was disqualified for 12 years in November 2015, as the company failed to meet defined benefit pension scheme obligations. The Insolvency Service also found the firm facilitated a series of transac...