The Derby court has postponed its ruling in the fraud case of ex-Norton CEO Stuart Garner. The court is said to have ruled on February 28, after Garner pleaded guilty in early February.
Stuart Garner faces up to 2 years in prison for the pension fraud in the three pension plans “Dominator 2012, Commando 2012 and Donington MC”, where Garner, as regulator, had invested the money in Norton stock in order to save the company from bankruptcy.
At first, Garner insisted he had no idea the money had been obtained fraudulently. In June 2020, Garner had already been ordered by the ombudsman to repay £14 million, but ninth protested, leaving pension holders still waiting for their money.
On February 7, Stuart pleaded guilty to the investment of an estimated £11 million fraudulently obtained funds. The Derby Crown Court then said it would rule in the case on February 28, but has now postponed the hearing indefinitely.
According to the court, the case is too complex and more time is needed to reach a verdict, and for that reason the lawsuit has now been adjourned. Until then, Garner remains out on unconditional bail.
– Thanks for information from Motorfreaks.