The former boss of Norton Motorcycles who illegally used around £11 million to plug the gaps of the failing business has avoided a prison sentence. Stuart Garner was the company's owner and sole trustee of the pension scheme, which other people invested into, Derby Crown Court heard.
However Derbyshire Live reports that he used his position to use cash from it to plough into the then Donington Park-based business, which he owned between 2008 and 2020. Handing him an eight-month jail sentence, suspended for two years, Judge Nirmal Shant QC, Honorary Recorder of Derby, said: "You controlled the Norton Motorcycle business and in 2012 the business needed funds and you raised around £11m by establishing three funds which were under your control.
"You did not know you were breaking the law, however, it is plain, in setting up a pension fund worth £11m, that you should have known your basic responsibilities as a trustee. You were obligated to act in a prudent manner according to law. You are an experienced businessman and you must have known there was a conflict of interest.
-copy-29e15046.jpeg?w=600)
