The money was moved from the pension scheme to a member using a purchased investment product and a debt agreement, and then was cashed out.

On 23 May 2016 the value of the pension fund stood at £263,000, derived from two contributions of £25,000 each made on 23 March 2016 and 24 March 2016 by UK companies controlled by the sole pension scheme holder and a transfer on 18 May 2016 of around £213,000 from another pension scheme.

A few months later in June 2016, the pension scheme invested cash of £100,000 in a P Class 2 Cash Fund. Then a debt agreement was arranged between the pension holder and the fund. He agreed to pay 10 annual instalments of £10,002.54 plus interest at 3% above the base lending rate.