Neil Davies was facing the failure of his business – and money worries that were consuming his every waking hour – when the phone rang. On the line was a man who claimed he could solve all his problems.
By transferring his modest pension pot over to the Norton Motorcycles scheme, Davies was told he could invest in a business that was on the up – and get cash back tax-free. It was the beginning of a nightmare that he has not yet escaped from.
As Simon Goodley tells Nosheen Iqbal, the Norton saga is one of a slow-motion crash. What begins as the tale of the revival of a prestigious motoring brand becomes the story of a failing business that takes down ordinary investors, many of whom could ill afford the eye-watering losses.
Stuart Garner, the man who attempted to revive the Norton brand, received an eight-month suspended prison sentence last year. In sentencing him, Judge Shant said: “Had this offence been put on the basis of dishonesty, or one where it was said that you had gained personally significant amounts of money, the court would have no choice but to send you to immediate custody.”
Garner has always claimed he was also a victim of fraudsters and has not responded to requests for comment.
Photograph: Norton Motorcycles
Support The Guardian
The Guardian is editorially independent.
And we want to keep our journalism open and accessible to all.
But we increasingly need our readers to fund our work.
