[UPDATE, July 25, 2023: In the second part of the Guardian's deep dive into the Norton pensions scandal, investigative journalist Simon Goodley was able to take a look at Norton's books from 2012 and 2013. Those are the key years as far as the pensions scandal is concerned, because that's when the money flowed from pensioners into what they believed were legitimate pensions funds, but which were not.
What he saw is that the pensions money wasn't used to purchase equipment to strengthen the business or invest in its future and/or longevity in any way. Instead, it was used for day-to-day expenses such as salaries and overhead.
