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Understanding recovery powers under the Proceeds of Crime Act 2002

The Royal Courts of Justice, London.
Photo: Peter Dazeley/Getty Images

What pension trustees and providers need to know.

Towards the end of last year, the Serious Fraud Office (SFO) recovered £295,000 ($382,000)from two pension funds of a convicted fraudster. Virendra Rastogi was convicted in 2008 of masterminding a worldwide metals trading scam that defrauded financial institutions out of hundreds of millions of dollars. 

Following the conclusion of the criminal trial,