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Former BHS boss convicted for failing to turn information over to regulator

Justice-Fine-Ban-Court-Gavel-Judge-700x450.jpgThe Pensions Regulator has won its court battle with former BHS boss Dominic Chappell, who has been found guilty of failing to disclose information to the regulator.

Chappell was the majority shareholder in the company that purchased BHS for £1. He failed to supply to TPR regarding that sale and transactions thereafter as it investigated the deal and subsequent collapse of the retailer which left a deficit of hundreds of millions of pounds in its pension scheme.

Chappell, who denies the charges, was found guilty of three charges of neglecting or refusing to provide information and documents without a reasonable excuse at Brighton Magistrates’ Court yesterday.

He will be sentenced later this month as the fifth individual or organisation TPR has won convictions against for failing to comply with its discovery orders.

TPR executive director of frontline regulation Nicola Parish says: “We are satisfied with the outcome of this case, the latest in a series of successful prosecutions by TPR for offences of this kind.

Ex-BHS boss hits out at regulator’s investigations

“Dominic Chappell failed to provide us with information we had requested in connection with our investigation into the sale and ultimate collapse of BHS, despite numerous requests.

“The power to demand specific information is a key investigative tool in our work to protect people’s pensions. 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.”

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  1. I don’t think there was much doubt of his legal resposibility and therefore the outcome of this case, but I also think the wider public and most advisers have no doubt where the moral responsibility lied and the failures which occurred.

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