MORRIS: PENSION BOSS WILL BE BACK IN COURT NEXT MONT OVER £52m FRAUD CLAIMS
A former pension fund boss accused of helping to steal £52m from customers is now due to enter pleas in November after prison legal visits were hampered by last month’s riots.
Tony Morris, 48, allegedly took part in an 21-month plot to withdraw money from GP Noble Trustees Ltd, and divert the proceeds out of the UK.
He was due to enter pleas on five charges including conspiracy to defraud at Southwark Crown Court today (Fri).
But Judge Nicholas Loraine-Smith heard his barrister has been unable to visit him at Wandsworth prison where legal appointments have been restricted to Wednesdays.
The judge said: ‘That might be something to do with the August events and the pressures that has put on the prison system.’
Morris, former director of financial advice group Money Portal, which was the parent company of GP Noble Trustees, has also had problems examining the large volumes of documents due to prison restrictions.
Nottingham-based independent trustee company GP Noble helped manage 29 company pension schemes and it is alleged that nine of them were raided.
The case was referred to the Serious Fraud Office (SFO) in July 2008 by The Pensions Regulator (TPR).
Prosecutors claim that with others Morris stole £30 million from GP Noble Trustees Limited and its beneficiaries between July and August 2007.
It is alleged he then stole £22 million from the same firm and a second trustee company called BDC in April 2008.
The investments made on behalf of the firm’s clients were liquidated and transferred out of the UK, it is claimed.
Morris appeared in custody alongside associate Peter Malmstrom, 43, who is said to have laundered £6,950,000 of the proceeds.
Malmstrom allegedly invested £1 million in Cerberus Security Group Limited in November 2007, and lent £4,350,000 to the same firm in February 2008.
Malmstrom is also said to have transferred £1,450,000 stolen funds to the client account of Hassan Solicitors, Gibraltar, and £150,000 to Stratstones of Mayfair.
Morris is charged with conspiracy to defraud, two counts of theft, and two of aiding and abetting fraud between October 31, 2006 and July 2008.
Malmstrom faces two counts of entering into or becoming concerned in a money laundering arrangement, and two charges of transferring criminal property between September 2007 and February 29 2008.
The judge adjourned the plea and case management hearing to November 10.
Morris, of no fixed address, was remanded in custody as before; Malmstrom, of (Apartment 74) Oyster Wharf, (18) Lombard Road, Battersea, south London, was granted bail as before on condition of residence at Napier Court, Fulham.
ENDS
