Charity Pension Fraudster To Repay £250k Stolen Funds

Patrick McLarry (72), from Devon, has been ordered by The Pensions Regulator (TPR) to pay back £250,000 he stole from a pension scheme from Yateley Industries, a charity dedicated to supporting vulnerable adults.

McLarry was the chief executive of the charity and spent the money on repaying a debt he owed for a pub lease purchase in Portsmouth and on a home and warehouse in the south of France.

Winchester Crown Court sentenced McLarry in February 2020 to 5 years.

The TPR used the Proceeds of Crime Act 2002 to secure a confiscation order against McLarry.

McLarry was ordered by Judge Recorder James Waddington QC to pay the full amount in 3 months of £286,852 to the Yateley Industries for the Disabled Pension Scheme to compensate members for the amounts he stole adjusted to account for inflation.

The Judge said: “Failure to pay would result in a further 3 years added to the prison term and still be required to pay the money back to the scheme”.  In addition, McLarry must pay £71,477 to the TPR to cover their legal costs.

Comment

• Fraud should not and does not pay, people always get caught out.
• It is nice to see courts imposing even heavier sentences if proceeds of crime are not paid back quickly.