The Pensions Regulator (TPR) has successfully prosecuted the majority shareholder of the company that bought BHS for £1.
TPR bought a case against Dominic Chappell under section 72 of the Pensions Act 2004 for failing to supply it with the information it required as part of its investigation into the sale and collapse of the department store.
He was found guilty at Brighton Magistrate’s Court of three charges of neglecting or refusing to provide information and documents, without a reasonable excuse. Mr Chappell had denied the charges.
This is the fifth criminal conviction secured by TPR for failing to comply with section 72 notices. Nicola Parish, TPR’s Executive Director of Frontline Regulation, said that it was satisfied with the outcome of the case.
‘The power to demand specific investigative tool in our work to protect people’s pensions,’ explained Parish. ‘This conviction shows that the courts recognise its importance and that anyone who fails to co-operate with our information notices risks getting a criminal record.’
Mr Chappell will be sentenced at Winchester Crown Court on 19 January.
