On March 31, 2022, the years-long, extremely drawn-out saga of Norton Motorcycles’ alleged pension plundering under ex-CEO Stuart Garner finally reached a conclusion. Unfortunately, it’s not a satisfying one, and even though we’re writing about it on April 1, we can assure you it is, sadly, not a bad joke.
For those unfamiliar, the problems arose when in 2012 and 2013, Stuart Garner was sole trustee over three separate pension funds, into which a number of British pensioners invested some or all of their life savings. Through the three schemes, the funds invested totaled about £11 million (or £14,265,143.35 adjusted for inflation, which converts to about $18,705,311.87 in 2022). In Garner’s role as trustee, he then invested all those funds into Norton Motorcycles, where he was CEO and owner between 2008 and 2020.
