STUART Garner, the former boss of Norton Motorcycles, has had his sentencing hearing postponed.
The Pensions Regulator (TPR) has announced that Stuart Garner’s sentencing hearing, that was due to be held today (28 February) at Derby Magistrates’ Court, has been moved back to a to-be-confirmed date.
TPR said the court took the decision to postpone the case “to allow enough time to hear it in full.” They added in an update on their website that they “expect the court to give an update shortly" and that TPR themselves will "give an update in due course."
The postponement comes three weeks after Garner pleaded guilty to three charges of breaching employer-related investment regulations on 7 February, when the court heard that Garner had invested £11m from three pension schemes - “Dominator 2012, Commando 2012 and Donington MC,” according to Pensions Age - for which he was the sole trustee. Professional Pensions states that the number of affected members across the three schemes was 227.
Garner had bought Norton in 2008, and expanded the workforce to 100 as the marque, its output and its income grew. There were also plans for a national training academy. However, in 2020 Norton faced winding up as it owed £300,000 in tax, according to Business Live. Administration followed later on in 2020, and the investigation by the pensions ombudsman began last year, when it accused Garner “of dishonesty, breaching investment laws and failing to ensure investors were putting their cash in the right sort of schemes,” as Business Live said.
