Police have ended their investigation into the chief executive of cross-border pensions provider STM Group Alan Kentish, who was arrested in Gibraltar in October 2017, with no further action.
Kentish was arrested by Royal Gibraltar Police over allegedly failing to disclose information about a client involved in a tax dispute with two countries.
The arrest came approximately two years after SIPP provider STM Group Plc, which owns UK-based London and Colonial, itself filed two Suspicious Activity Reports to the Royal Gibraltar Police during a tax dispute with a client.
This Friday, the AIM-listed firm revealed that Kentish (pictured) and an unnamed Gibraltar-based colleague, who was also arrested, had been cleared.
“Alan Kentish and his colleague have now been formally advised that the investigation into matters described in the announcement have been completed and no further action will be taken. No charges were ever made against the individuals,” the statement said,
Last month STM, which provides international tax planning, acquired the troubled UK Sipp provider Carey Pensions in a deal worth up to £400,000.
The firm decided to relocate its headquarters from Gibraltar to the UK in January,
