Two former pension trustees sentenced for illegal loans

Mark Battersby
clock • 5 min read

Two former UK pension scheme trustees have received suspended sentences for making illegal loans of £236,000 from a company pension scheme to the scheme's employer, following a prosecution by The Pensions Regulator (TPR). Company directors Andrew Kyprianou, 60, of Glebe Avenue, Enfield, Middlesex and Colin Werb, 72, of The Birches, Grimsgate, Diseworth, Derby, who had previously admitted two counts of making prohibited employer-related investments, were sentenced to 16 months in jail for each offence, suspended for two years, at Leeds Crown Court on 25 November. They were also ordered...

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