Called to account: September 2020

In this month’s scandals, convictions and penalties, Illegal pension introducers ordered to repay after misleading investments, Ex CEO ordered to pay fine over accounting fraud charges, and Football club director’s bankruptcy extended over funds abuse

Illegal pension introducers ordered to repay £10.7m

The High Court has ordered two companies and three individuals to pay a total of £10.7m in restitution to individuals who were illegally induced to transfer their pensions into self-invested personal pensions (SIPPs), following action by the Financial Conduct Authority (FCA).

The order was made against Avacade Ltd (in liquidation), Alexandra Associates (UK) Ltd trading as Avacade Future Solutions (AA), Craig Lummis, Lee Lummis and Raymond Fox.

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Business | NHS fraudster resold £279k stock back to trust

Finance | Legal updates: invalid execution of deeds when director does not sign

Finance | Legal updates: directors’ loan repayments under scrutiny

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