Chess and Pension Fraud - allegation
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Re: Chess and Pension Fraud - allegation
In taking on such an important role or controlling function within financial services, if things do go wrong any defence which relies on ignorance, inability or incompetence is no generally defence.
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Re: Chess and Pension Fraud - allegation
For some reason I'm reminded of the episode of the Simpsons where it turns out that Mr Burns is not responsible for the dumping of nuclear waste because the power plant is owned by a canary.
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Re: Chess and Pension Fraud - allegation
The standard used to be, and probably still is, as set out in the Trustee Act 1925, that a trustee should “exercise the same care as an ordinary prudent man of business would exercise in the conduct of his own affairs”. The words "act with reasonable care and skill" appear elsewhere as a more recent requirement. If a trustee can show he has met those two tests, he's probably safe even if the worst happens. It's worth pointing out here that all this is true even where someone, although not termed a "trustee", fulfils that role - for example, a chess club committee member.Simon Myles wrote: ↑Mon Oct 02, 2023 10:13 amIn taking on such an important role or controlling function within financial services, if things do go wrong any defence which relies on ignorance, inability or incompetence is no generally defence.
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Re: Chess and Pension Fraud - allegation
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Last edited by Matt Bridgeman on Sat Oct 21, 2023 10:37 am, edited 1 time in total.
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Re: Chess and Pension Fraud - allegation
The 20/3/2016 diagram shows a very rudimentary scheme, the work of amateurs. As the 9/6/2016 piece makes clear, "Later models were careful to cloak the liberations in layers of smoke and mirrors", typically by interposing shell companies. The test of such an arrangement (assuming the law hadn't changed since last I looked) was whether it made any commercial sense, other than as a tax avoidance device, and interposing shell companies - particularly offshore companies where HMRC had difficulty accessing records - made this test more difficult to carry out.Matt Bridgeman wrote: ↑Mon Oct 02, 2023 4:27 pmIs Simon’s scheme literally the same as ‘The Original Scheme’ but Simon is now the Trustee and Glenn is the administrator? Or were there further tweaks? It does seem a bit mad they just kept going considering there seems a fair bit of information out there in 2015 and 2016, well before the High Court case of 2019, that ‘The Original Scheme’ was a scam.
20th Match 2016, even with a nice diagram!;
https://pension-life.com/kjk-investment ... -revealed/
June 9th 2016;
https://pension-life.com/kjk-investment ... tion-scam/
Even earlier, 24th June 2015;
https://www.pinsentmasons.com/out-law/n ... high-court
Where some of the relevant legislation sits today;
https://www.legislation.gov.uk/ukpga/2000/29/contents
https://www.legislation.gov.uk/ukpga/2021/1/contents
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Re: Chess and Pension Fraud - allegation
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Last edited by Matt Bridgeman on Sat Oct 21, 2023 10:37 am, edited 1 time in total.
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Re: Chess and Pension Fraud - allegation
Well this was certainly smoke and mirrors.
When we get down to basics, though, it appears that a cabal of chessplayers has played fast and loose with other people's money.
When we get down to basics, though, it appears that a cabal of chessplayers has played fast and loose with other people's money.
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Re: Chess and Pension Fraud - allegation
One wonders how BH Wood would have reported this had it happened during his watch. I'm sure he would not have minced his words.Nick Ivell wrote: ↑Mon Oct 02, 2023 5:37 pmWell this was certainly smoke and mirrors.
When we get down to basics, though, it appears that a cabal of chessplayers has played fast and loose with other people's money.
Even Freddy Reilly would have put his thoughts into print.
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Re: Chess and Pension Fraud - allegation
Is "cabal" the right word? I'm not sure. I did see mention of a Michael Hennigan (*possibly* to go alongside involvement of three other titled chessplayers), in a Tweet thread recently referenced by Matt Bridgeman... What I think would be useful is a timeline and charts of the various interactions between the pension schemes which have run into trouble, the property investment companies (with cross transactions) in which the schemes invested and the individuals involved. Certainly it seems to me that Gary Quillan helped "mastermind" the schemes and that Simon Williams has been involved in two schemes which have run aground, the latter apparently with the loss of nearly all scheme funds. What I gleaned from a scan of the most recent ruling is that the Ombudsman was not impressed by the (in)actions of Simon Williams.John Upham wrote: ↑Mon Oct 02, 2023 6:00 pmOne wonders how BH Wood would have reported this had it happened during his watch. I'm sure he would not have minced his words.Nick Ivell wrote: ↑Mon Oct 02, 2023 5:37 pmWell this was certainly smoke and mirrors.
When we get down to basics, though, it appears that a cabal of chessplayers has played fast and loose with other people's money.
Even Freddy Reilly would have put his thoughts into print.
Also, I think there's a question about what action if any the ECF should take. At the time of the previous ruling the FT reported:
the Financial TImes wrote:Mike Truran, the chief executive of the ECF, told the FT in a written statement: “We do not comment on matters pertaining to the actions of individual members outside of chess . . . Simon Williams is a very popular chess commentator and has a large following.
Last edited by Angus French on Mon Oct 02, 2023 10:25 pm, edited 1 time in total.
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Re: Chess and Pension Fraud - allegation
The ECF should, in my view, do absolutely nothing. This is a civil finding, admittedly involving large sums of money, and not a criminal conviction. The ECF wouldn't be expected to do anything every time a chess player received a CCJ against them, even though many of these imply dishonesty, so presumably there would have to be an arbitrary delineation between "serious" cases (where the ECF was expected to take action) and "not so serious". And even "serious" cases wouldn't be discussed in the manner this has been discussed, but for the fact that Simon is a GM and not some random player. Criminal convictions are maybe another matter although, there again, I'd distinguish between shoplifting and manslaughter. Given that the ECF has limited resources, I believe it should prioritise allegations of sexual abuse and similar within the chess world.Angus French wrote: ↑Mon Oct 02, 2023 9:14 pmI think there's a question about what action if any the ECF should take. At the time of the previous ruling the FT reported:
the Financial TImes wrote:Mike Truran, the chief executive of the ECF, told the FT in a written statement: “We do not comment on matters pertaining to the actions of individual members outside of chess . . . Simon Williams is a very popular chess commentator and has a large following.
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Re: Chess and Pension Fraud - allegation
"The ECF should, in my view, do absolutely nothing."
Yes. As I've said before, they are not qualified or competent to deal with such matters. Football and cricket have been banning people for being accused of offences, just in case they're guilty. Why?
ECF has to do what it can to ensure the safety of players, so it's a good idea to stop convicted sex offenders working in chess. The law covers such things anyway.
But for other offences, who would decide what is "serious" enough to merit a ban or other sanction? BCF threatened to ban me for saying arbiters should not ignore accusations of cheating just because the cheat was a family friend!
Yes. As I've said before, they are not qualified or competent to deal with such matters. Football and cricket have been banning people for being accused of offences, just in case they're guilty. Why?
ECF has to do what it can to ensure the safety of players, so it's a good idea to stop convicted sex offenders working in chess. The law covers such things anyway.
But for other offences, who would decide what is "serious" enough to merit a ban or other sanction? BCF threatened to ban me for saying arbiters should not ignore accusations of cheating just because the cheat was a family friend!
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Re: Chess and Pension Fraud - allegation
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Last edited by Matt Bridgeman on Sat Oct 21, 2023 10:37 am, edited 1 time in total.
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Re: Chess and Pension Fraud - allegation
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Last edited by Matt Bridgeman on Sat Oct 21, 2023 10:38 am, edited 1 time in total.
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Re: Chess and Pension Fraud - allegation
Para 57Paul Heaton wrote: ↑Mon Sep 25, 2023 4:55 pmFurther development:
https://www.pensions-ombudsman.org.uk/n ... ermination
Para 60On 8 October 2018, Mr M emailed Brambles saying: “Been reading through my policy and understand Focus Administration Pension Scheme are my trustees and that Brambles Administration Limited are the administrator’s. Do Brambles not do the transfer of £65,022.57. All the transfer forms have been completed and you stated would arrange transfer. However still waiting for this transfer to take place, I have followed all your instructions, sold this property with a loss of £35,000 last year to be able to move these funds to Aviva at the age of 55 years as they needed to be sold first in compliance with Focus Administration. I would like to speak to Focus Administration Pension Scheme and establish what the delay is, as you don't appear to be answering any of my emails or phone calls regarding this transfer.” [sic]
Para 242On 23 October 2018, Brambles responded to Mr M saying that contact with the Trustee was through Brambles' email address. It provided no detail of who the trustee was or how to contact them.
So, House only spoke with Williams on the telephoneBrambles no longer holds any written records of instructions from the Trustee. All communication with the Trustee was by telephone.
Interesting date, 23 October 2018, as the Isle of Man Masters took place 20-28 October 2018
Glenn L House vs Simon Kim Williams
Isle of Man Masters (2018), Douglas IMN, rd 5
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Re: Chess and Pension Fraud - allegation
Point well taken, they might well have spoken face to face. But that's still consistent with no written records.Mick Norris wrote: ↑Tue Oct 10, 2023 6:11 pmPara 57Paul Heaton wrote: ↑Mon Sep 25, 2023 4:55 pmFurther development:
https://www.pensions-ombudsman.org.uk/n ... erminationPara 60On 8 October 2018, Mr M emailed Brambles saying: “Been reading through my policy and understand Focus Administration Pension Scheme are my trustees and that Brambles Administration Limited are the administrator’s. Do Brambles not do the transfer of £65,022.57. All the transfer forms have been completed and you stated would arrange transfer. However still waiting for this transfer to take place, I have followed all your instructions, sold this property with a loss of £35,000 last year to be able to move these funds to Aviva at the age of 55 years as they needed to be sold first in compliance with Focus Administration. I would like to speak to Focus Administration Pension Scheme and establish what the delay is, as you don't appear to be answering any of my emails or phone calls regarding this transfer.” [sic]Para 242On 23 October 2018, Brambles responded to Mr M saying that contact with the Trustee was through Brambles' email address. It provided no detail of who the trustee was or how to contact them.So, House only spoke with Williams on the telephoneBrambles no longer holds any written records of instructions from the Trustee. All communication with the Trustee was by telephone.
Interesting date, 23 October 2018, as the Isle of Man Masters took place 20-28 October 2018
Glenn L House vs Simon Kim Williams
Isle of Man Masters (2018), Douglas IMN, rd 5
0- 1