A 61-year-old man involved in a £13.7m pension transfer fraud changed his plea to guilty today at Southwark Crown Court.

Alan Barratt, 61 of Brooklands, Burnham Road, Althorne, Essex, had previously pleaded not guilty to a charge of fraud by abuse of position at a previous hearing. 

He was prosecuted, along with others, by The Pensions Regulator (TPR) for being involved in a pension fraud which saw 245 pension savers lose a total of £13.7m.

The TPR alleges that between 2012 and 2014, hundreds of pension savers were persuaded to transfer their pension savings into 11 pension schemes under the control of three defendants – Alan Barratt, Julian Hanson and Susan Dalton.  

Susan Dalton, 65, of Geneva Terrace, Rochdale, Greater Manchester, pleaded guilty at a previous hearing.

Julian Hanson, 56, of Lea Road, Batley, pleaded not guilty on a previous occasion. 

The case has been adjourned until 13 June when Mr Hanson will stand trial at Southwark Crown Court. 

All defendants who have pleaded, or are found, guilty will be sentenced at the conclusion of that trial.

All the defendants have been released on conditional bail. 

• Editor's Note: The sum involved was £13.7m, not £13.1m as initially reported.