Two pension fraudsters have been ordered to hand over the majority of their assets after a Proceeds of Crime Act (POCA) investigation by The Pensions Regulator (TPR), with the money to be returned to the pension schemes affected by the duo.

The successful conclusion to the investigation also means that Dalriada Trustees, the independent trustees running the affected schemes, can now take steps to further progress the claims on the Fraud Compensation Fund.

Alan Barratt and Susan Dalton were previously jailed for a total of 10 years for their roles in a scam that saw more than 200 savers tricked into transferring £13.7m into fraudulent schemes.

The pair will now also be required to make financial amends, as the POCA saw Barratt and Dalton ordered to pay £9,771 and £25,010 respectively at Southwark Crown Court today (17 January).

According to TPR investigators, the amounts represent the vast majority of Barratt and Dalton’s remaining assets, although if further assets are linked to the pair in future, the regulator can ask the court to increase the amount payable under a confiscation order.

If Barratt or Dalton fail to pay, they risk a further jail term and will still be liable for the ordered sums, plus interest.

Commenting on the news, TPR executive director of frontline regulation, Nicola Parish, added: “We already put fraudsters Barratt and Dalton behind bars, now we are depriving them of the remainder of their ill-gotten gains.

“Our thoughts continue to be with the pair’s victims, many of whom saw their lives devastated by Barratt and Dalton’s crimes.

“Significantly the end of the POCA proceedings brings a claim on the Fraud Compensation Fund a step nearer.”

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