Dominic Chappell: Former BHS owner fined £124,000 for breaking pensions law
Judge accuses 52-year-old of ‘complete lack of remorse’ over his offences
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Dominic Chappell, the former owner of BHS, has been ordered to pay a total of £124,000 for breaking pensions law when the high street retail giant collapsed.
The 52-year-old was found guilty in January of failing to give The Pensions Regulator information about the firm’s pension schemes after it went into administration in 2016.
Chappell was resentenced at Hove Crown Court on Friday after losing an appeal against his conviction earlier this year.
Judge Christine Henson QC criticised the former racing driver for showing a “complete lack of remorse” in relation to his offences, representing a “blatant” refusal to comply with pension law.
She ordered Chappell to pay a £50,000 fine and £73,900 in court costs at his resentencing at Hove Crown Court on Friday.
As the director of company Retail Acquisitions, Chappell bought BHS for £1 from billionaire Sir Philip Green in March 2015.
BHS went into administration in April 2016, leaving a £571m pension deficit – with Mr Green later agreeing to pay £363m towards this. Prosecutor Alex Stein argued Chappell had shown a “persistent, deliberate and blatant” refusal to comply with pension law.
Mr Stein said the self-described entrepreneur failed to provide a “full and frank” disclosure of his financial information ahead of sentencing – including in relation to a yacht called Maverick II and a property in Marbella, Spain.
Representing himself in court because he cannot afford legal fees, Chappell denied owning the boat and said he temporarily held the Spanish home in trust for his sick mother at no gain to himself.
He also denied having any “hidden assets” and said he did not have “cash available” to pay any fines.
Chappell argued it had been “nigh on impossible” to provide relevant information to the regulator because he was locked out of the BHS office upon its collapse.
He claimed the purchase of the high street chain had relied on undertakings by Mr Green and an audit by PricewaterhouseCoopers.
“I’m not a Philip Green sitting on a £100m yacht in the south of France who writes a cheque for £350m to make the problem go away,” he said. “I’m a victim of the circumstances that came out of British Home Stores. I wish to god we never got involved in it.”
Following the sale of BHS, the pension regulator launched an investigation over concerns about two pension schemes representing 19,000 members of staff.
Chappell was issued with two notices in March and April 2016, known as section 72s under the Pensions Act 2004, before being handed a warning notice in November that year.
He claimed he did “everything and more” to help The Pensions Regulator but was convicted of three charges of failing to provide information to the regulator under the act in January at the end of a four day trial.
Additional reporting by Press Association
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments