NI pension fund fraud: Two men to stand trial over alleged roles in scam

Paul Ferrin, 67, is being prosecuted for suspected involvement in defrauding workers out of retirement sums.

A 41-year-old co-accused faces counts of fraud by false representation and making a misleading statement about an investment.

He was granted anonymity amid concerns that any identification would lead to an increased risk of suicide.

Both men appeared together at Belfast Magistrates’ Court for a preliminary enquiry into the strength of the case.

Ferrin, of Saintfield Road in Castlereagh, Co Down, is charged with a total of 17 offences.

The allegations against him include unlawful financial promotion and carrying out a regulated financial activity without the proper authorisation.

He is further accused of four counts of fraud by false representation, four charges of making misleading statements and seven counts of concealing material facts about investments.

The case relates to the alleged transfer of workplace pension pots into Small Self-Administered Schemes.

With five-figure sums involved, some of the funds were to be moved from Royal Mail pensions, according to the charge sheet.

The defendants confirmed they understood the allegations against them, but declined when asked if they wanted to give evidence or call witnesses at this stage.

“No thank you,” Ferrin replied.

District Judge Steven Keown held that they each have a case to answer and granted a prosecution application to return them for trial at Belfast Crown Court.

Both men were released on continuing bail to appear again for their arraignment on a date to be set.

Lawyers representing the 41-year-old accused sought reporting restrictions based on a right to life protected by Article 2 of the European Convention on Human Rights.

A psychiatric report provided as part of the application concluded there would be a heightened risk of suicide if he was named by the press.

Judge Keown ruled: “On the basis of the medical evidence provided, I grant anonymity.”