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International Business Times UK
International Business Times UK
Politics
Francis Louie C. Añiga

£70M Tree-Planting Pension Fraud Trio Jailed After £14M Luxury Spending Spree

Luxury SFO
A Serious Fraud Office investigation led all three defendants to plead guilty to fraudulent trading in January ahead of a scheduled trial (Credit: Images George Rex/Flickr)

Three former directors of a Bournemouth-based 'ethical' pension scheme have been jailed over a £70 million investment fraud that left nearly 3,000 savers out of pocket while funding a £14 million splurge on luxury homes, supercars and a yacht.

Matthew Pickard, 55, Stephen Greenaway, 48, and Paul Laver, 48, each admitted fraudulent trading at Southwark Crown Court over their roles at Ethical Forestry Ltd, which operated between 2008 and 2015.

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