Police have launched a fraud investigation concerning for- mer Rowanmoor Pensions joint managing director David Seaton who died last year.
A probe is being carried out into allegations that the firm was defrauded of £1.6m between 2001 and 2005. Seaton’s body was found on a beach in Boscastle in Cornwall last September.
The police probe comes after Rowanmoor Pensions managing director Ian Hammond and the board conducted investigations into Seaton’s business activities. Hammond says: “This was reported to the police by the board and is now subject to police investigation. As a result, we are unable to discuss details of the case at this stage. We are confident this was a one-off issue and affects one client only.” He says Rowanmoor is fully restoring funds so there will be no loss to the client.
A spokesman for Wiltshire Police says: “We can confirm that we are investigating allegations of fraud and theft involving David Seaton. As enquiries are ongoing, it would not be app- ropriate to comment further at this stage.”
Rowanmoor administers Standard Life’s small self-administered schemes. A Standard spokesman says: “This investigation is not an issue for us. We checked before Christmas and none of these schemes is linked with this investigation.”