The former boss of BHS Dominic Chappell has been convicted by The Pensions Regulator (TPR) for failing to pass over information.
Chappell bought BHS for £1 from Philip Green's Arcadia group in March 2015. TPR later opened an investigation into the sale over a £571 million deficit in the BHS defined benefit pension scheme.
In a separate case yesterday at Brighton Magistrates’ Court Chappell was found guilty of three counts of ‘neglecting or refusing to provide information and documents, without a reasonable excuse’ TPR said in a statement.
The charges, which Chappell denies, relate to information about the purchase of BHS, the participants involved and ‘transactions involving BHS… after the sale had been completed’.
Chappell also allegedly did not hand over information to TPR about ‘about a possible unauthorised disclosure of restricted material’.
He will be sentenced at Winchester Crown Court on 19 January.
Nicola Parish, TPR’s executive director of frontline regulation, said: ‘We are satisfied with the outcome of this case, the latest in a series of successful prosecutions by TPR for offences of this kind. Dominic Chappell failed to provide us with information we had requested in connection with our investigation into the sale and ultimate collapse of BHS, despite numerous requests.
‘The power to demand specific information is a key investigative tool in our work to protect people’s pensions. This conviction shows that the courts recognise its importance and that anyone who fails to co-operate with our information notices risks getting a criminal record.’