Fund boss ‘stole £52m from OAPS’

Midweek Sport - - NEWS -

A PEN­SION fund boss stole £52mil­lion to fund his lav­ish life­style, a court heard.

Tony Mor­ris, 49, pock­eted the cash to in­vest in Thai lux­ury re­sorts, on­line book­ies and pay off his ex-wife, it is claimed.

Fi­nan­cial ad­vi­sor Peter Malm­strom, 45, laun­dered mil­lions taken from the GP No­ble Trus­tees Ltd pen­sion fund, South­wark Crown Court heard.

Mor­ris ( above) stole £30mil­lion from the Not­ting­ham based firm in 2007, then took an­other £22mil­lion from the same firm and a sec­ond trustee com­pany called BDC in 2008, it is claimed.

Pros­e­cu­tor David Far­rar QC told the jury: “Large amounts of money dis­ap­peared not into in­vest­ments for pen­sion­ers but into bank ac­counts con­trolled by the de­fen­dants and oth­ers or were used for Mr Mor­ris’s im­me­di­ate ben­e­fit.

“Mr Mor­ris in­tended to use part of the funds for his own per­sonal needs, such as set­tling his wife’s sub­stan­tial claim in their di­vorce pro­ceed­ings.”

Mor­ris of Chiltern Polden, Som­er­set and Malm­strom of Ful­ham, south­west London deny charges. The trial con­tin­ues.

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