UK. Pension fund manager found guilty of stealing almost £1m
A pension fund manager at the UK’s Westminster City Council has been found guilty of stealing nearly £1m from an employee retirement scheme.
Ian Woodall, 47, duped colleagues into approving successive payments by disguising them as investments. Over the three years from 2009, Woodall siphoned off £924,841 from the £1bn employee pension fund.
Woodall then transferred the money to Swiss bank accounts and later moved it back into his British accounts, from where he used the money to refurbish his new home, and bought several cars.
Southwark crown court passed the guilty verdict on Monday, where the jury unanimously convicted Woodall of fraud.
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