Three directors who liberated just under £12m worth of pension savings have been disqualified for a total of 34 years for misleading investors over a period of 30 months.
Kevin Kirkwood was handed a 10-year ban, while Gary Quillan and Gregory Garrett were both given 12-year disqualification orders on 18 September at the High Court in Manchester. The court heard that the two firms involved - Liverpool-based KJK Investments and Windermere-based G Loans - operated a ‘pension liberation scheme' allowing savers to access pension benefits before the age of 55. Some 209 individuals were offered loans by G Loans on the condition that they simultaneously invested their existing pension in KJK Investments shares - the value of that investment being typically twi...
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