Last month, 11 people were arrested and bailed following raids in the North West and Midlands linked to a £2.5m suspected tax fraud involving bogus pension schemes.
A solicitor representing MW Pensions has confirmed that some of the arrested persons were directors of MW Pensions.
Pannone solicitor Chris Stott says the directors deny any wrongdoing. He says: “I can confirm that arrests of various MW Pensions directors did take place and action is taking place. We are not aware that they have been charged with any offences.”