The 53-year-old invested £11 million into the business, which he had moved to Castle Donnington, between 2012 and 2013.
He was the sole trustee of the company, and used that position to illegally invest the funds.
Garner was, at a time, a multimillionaire after buying the rights to the Norton motorcycle brand in 2008. The business was endorsed by MPs and the government invested money in it too.
When the business began to struggle, he set up a pension fund, and invested all the money into the motorcycle firm - when he should have only invested a maximum of 5%.
He pleaded guilty to three counts of breaching employer-related investment rules.
Passing sentence, Judge Nirmal Shant QC said “You controlled the Norton Motorcycle business and in 2012 the business needed funds and you raised around £11m by establishing three funds which were under your control.
“You were obligated to act in a prudent manner according to law. You are an experienced businessman and you must have known there was a conflict of interest.
Diese Geschichte stammt aus der May 2022-Ausgabe von Bike SA.
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Diese Geschichte stammt aus der May 2022-Ausgabe von Bike SA.
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