Breaking News: Ex Owner of Norton Motorcycle Co. Found GUILTY
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- เผยแพร่เมื่อ 15 ก.ย. 2024
- Norton Motorcycles former owner Stuart Garner has been found guilty of pension fund mismanagement. He went all-in with pensioner funds investing them completely into Norton, when as trustee, Garner legally should have invested no more than 5% of the funds.
Stuart Garner's history as Norton's corrupt owner is documented, along with his wasting of funds on purchasing Donington Hall, six Aston Martin's, and failure to pay his suppliers.
He took payments for motorcycles he knew he would never be able to build, and spent pensioners' money on a lavish lifestyle that blew many people's life savings.
Stuart Garner is greasy.
#nortonmotorcycles #nortonmotorcycle #tvsmotor
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The legal system has let down so many people here in England. Stuart Garner is a proper low life. My wife and I do have some connection to Garner and Norton, we had a deposit down on what was going to be the new lower cost Atlas Scramber.
Turned out we were told a pack of lies about how far these bikes were in development and were strung along with extended delivery dates. In actual fact he was taking as many deposits as possible just to keep money coming in.
Just before it all went completely belly up we were invited to Donington Hall and asked if we wanted to make a special investment in Norton Motorcycles. 🤣🤣 Needless to say by then we better understood what was happening.
Just for background we live just a few miles from Donington Hall, lots of folks local to me worked there, we took our bikes to bike nights there. We wanted to buy a British bike, built by Britons just down the road. We had sat on the prototype in Donington Hall, it looked good and at a price normal folks could afford. Stuart Garner didn't just take money from wealthy investor Superbike owners, lots of folks like us got caught up in this.
Anyway by the time we were invited to invest more than our £500.00 deposit we knew there was a problem. We had already decided he was a dodgy character after his hour presentation of how the banks didn't understand him and the business!
In the end our credit card company refunded our deposit but anyone who paid direct lost their money. Many did. Many V4 owners lost huge amounts. Some who had taken their bikes back to Norton for warranty work found them stripped back to the frame; their parts used to complete other new bikes as by then suppliers wouldn't supply because of non payments.
I honestly don't believe TVS got value for money in what they bought of the remains.
The whole motorcycle community here in the UK are shocked he could take so much money and get away with no jail time. He truly is a loathed and despised man.
I did make some vids over on my TH-cam channel at the time and you can watch from the moment we stood for photos with Garner to the last vid where we know what's happened.
As a final aside, another great name Spondon Engineering got caught up in this mess. They were renowned in the 70s for building motorcycle racing frames. Garner had managed to acquire it and drove it into the ground.
If you really want to know the whole story, look up John Hogan editor of UK Superbike magazine. Did loads of work covering the story while the mainstream MCN kept telling the public how great Norton was doing.
I'm pinning this comment in hopes everyone will read it and more people will share their stories. Sorry to hear you guys got caught up in this disaster but glad you guys were able to get out financially intact. A lot of people weren't 😞
PS thank you for sharing this
I saw that poor woman on ITN Central news last week who's late father had invested his whole pension with Norton. Makes my blood boil. I'm not a biker, but do hate injustice like this. It's just not right.
@@Saxtoo It is terrible, I've seen how it affected the motorcycle community but to use the pensioners money and for it only warrant a suspended sentence??
He is a really nasty bloke all in, but what happened with Spondon was pretty sad, ruined the company and the man behind it!
@@HippoDrones Sad and unfortunately true.
What's awful is he had evil intensions right from the beginning and those poor pensioners lost their pension in some cases and many bought bikes paying up front. He should have had years in prison. A burglar serves more prison than him
And does much less damage too 😔
One man's GREED is a million others' misfortunes. He should be held accountable and made to pay it all back.
Yup. Super greasy.
Cant believe he got off so lightly. He should have got at least 10 years bearing in mind many motorcyclists suffered theft of parts from bikes in for service, writing off their £35k bikes, all entirely under his direction.He should have got 10 years for the pension rip off and 5 more for theft. Anybody else would have. It is all about protecting the political and banking establishment that held him up as a hero.Politics as usual.What a scumbag.
Serious scumbag vibes. Greasy enough to do it, good enough to get away with it. The guy should be a Bond villain.
To only apply a 8-mth suspended sentence for running a bike-building Ponzi scheme that came crashing down and declare bankruptcy is terrible.
TVS is a totally different and separate company from Garner's Norton. They have offered to supply brand new Nortons to owners of Garner era Nortons for 10k plus your crappy old bike. They were not obligated to do this, so I think they're being pretty fair. I watched a video tour of the new factory with interviews with the staff and tbh TVS seem pretty committed to good quality control and to producing good bikes. I'm going to give them the benefit of the doubt for now.
Of course, but what are they doing for those who paid money and never got their motorcycles? Are they getting any recompense?
@@YouMotorcycle That money was paid to Garner's company. They should be pursuing Garner.
@@aussiesam01 can't. He's declared bankruptcy.
@@YouMotorcycle Duh, yeah. But that has nothing to do with TVS
@@aussiesam01 correct. Unless they're interested in winning back the love of the Norton faithful
Some potential investor in the early days of Garners Norton 'venture' went to see Garners Dad for advice. Apparently he was told not to have anything to do with any project his son was involved in.
Good to know the whole family isn't like that.
Hi
Sometimes l wonder about some of these judges like which planet they live on. Someone steals that much money, destroys so many lives and he gets to live. l do not mean he should be executed but he should probably have gone to jail for at least 20 years or so.
Without getting political but it seems white collar crime is punished less severely in many countries than say muggings or robbery, it beggars belief as its consequences are usually worse. l mean one guy as a robber could affect maybe ten or so people over a career or tens assuming its just robbery and nothing worse. However white collar crooks can affect a lot more people and nothing seems to be done.
Some say its because prosecuting it successfully is usually difficult, the courts do not normally have the resources to do so and these cases are complicated because the schemes are usually run by very clever people and they have the means to buy the best legal brains to defend them. So it seems perversely these kinds of crome are encouraged.
That whole notion of victimless crime is absurd so just because someones home was not in itself broken into or noone suffered real physical loss then there is no victim.It is crazy to me. Looking at Madoff did he not get something like 70 to over 100 years. He stole what about $60 billion. So a reasonable judge could have said at least 20 or so years in my opinion.
Secondly judges are only guided as far as sentencing goes, l think they are in some cases allowed to make exemplary sentences to dissuade other like minded people. This is a perfect example of where such an approach would have been ideal but then again these judges. In other countries we would say there is a whiff of corruption regarding the sentencing howecer as the UK system is alegedly a solid one it may not be valid to say so..
The other thing is l think there is a body or the families or even the justice minister can appeal for a review of the sentencing, l am not a lawyer but it has happened before.
As for the TVS thing, l think it is unfair to say they are greasy, morally they have no obligation to honour the misdeeds of another past owner so they are within their rights. Yes it would be a good gesture if they did but l do not think they have to. The thing is it depends on how they bought the company. If they bought the shares in total then they would be liable for those. On the other hand if they simply bought the name and assets, it means the liabilities remain with the previous owner.
If they merely purchased the assets then same thing but as they are still using the Norton name it suggests they bought the assets and the name. So from a legal perspective they would not be under any obligation to make any restitution to the unfortunate pension funds and customers.
As for Stuart, he will probably be a specified person. Since he has been declared insolvent, he will not be allowed to have more than say £20 on him at anytime, he will not be able to buy assets etc without proving where the money is coming from and there are many other restrictions like he may not be able to do certain things one of which is be a director of a company.
He can become what is called 'rehabilitated' which would mean he has paid back his debtts and so would once again be able to have no restrictions on having money etc.However there have been recent changes to directors so l am not sure about this.
l had to read this some 20 or so years ago so most of my knowledge is probably obsolete so forgive any errors on my part.
All good observations/thoughts.
I bought a Dominator SS (limited edition) during the Garner era, subsequently after the crash and contacting TVS regarding support, they wrote saying they could “not” support Garner era manufactured bikes.
Wow. What a huge disappointment that only worsens this disaster. Sorry to hear this.
@@YouMotorcycle In addition to not supporting the model, they would not supply spare engine parts (the SS was built on the 961 Commando engine platform) as they may not fit my model due to irregularities in manufacture between the Garner era and the TVS era. For a brand such as Norton with its history this is sickening to the die hard owners., but in today’s business greed ethos, not really surprising
I'm staying away, far away, from Norton anything, and can't understand anyone who wouldn't. Caveat emptor.
Unfortunately... You're probably right. At least for the immediate future. We'll see what the long term future brings
Should have never sold my 70 Commando . What a great bike on any surface.
Here's a walk around of my friend's 70's Commando to spark some nostalgia th-cam.com/video/SQROjdRBZiI/w-d-xo.html
Thanks. Cheers from the Pacific West Coast of Canada.
Thanks Gordon, ride safe and best wishes from Toronto!
Some things in Britain stink. But what Garner got from the lady Judge Shant this week at Derby Crown Court was truly, truly amazing. How this got cooked up, I'll never know, nor understand. His lawyer deserves a kiss. An 8 months suspended sentence for 2 years with no directorships for 3 years, for nabbing £11,000,000. Many noughts. You see, our prisons are all full up. Everyones getting these suspended sentences these days. Garner also received a £20,000 legal bill but as you can imaging, no chance of paying. His legal brief said Garner didn't realise he was "stealing"/investing this pension money. Yeah, right! And as we all know... ignorance is no excuse in the eyes of the law. (I shall make use of this reason if I ever get caught). I believe there was just over 200 staff there, TBC. (Rather somewhat like old, late, fattyboy Robert Maxwell, father of Gislaine Maxwell, also did, dipping into other peoples' pension pot. A pass time we all ought to take up, it's so easy). ps. Donington Hall isn't a castle. It was formerly used for a very long time by a superb local airline called British Midland, as their HQ, which is now defunct, hence its vacancy at that time. And during WW1 we kept German POWs there. Seen the photos.
You got it!
The jails maybe full, but I bet that if I was caught on one of his Motorcycles doing 100mph , they would soon find me a cell.
An observation and a question.
Observation.. If it looks to good to be true, is probably isn't.
Next TVS.. To determine TVS's responsibility to all the folks who paid for, and did not get. their motorcycles or had warranty issues and had to pay for repairs, or the bikes are down and worthless as a result.. you would have to look at the purchase agreement/contract Garner to TVS.
If TVS did not agree to "buy" or accept liabilities.. they have no legal obligation.
Ergo, not only is Stuart Garner a weasel, so is TVS.
If they are a stand up company and want to truly resurrect the brand, build customer confidence and come out heroes, they should step to the plate and do the right thing , write off the losses as a legitimate business expense.
Looks to me as the pension scam was a completely separate deal and therefore zip all to do with TVS.
As a one time owner of a 1971 Norton Commando drum braker, purchased new in England, I mourn Norton's demise.
As to India and motorcycle production... this is MY opinion and mine alone...yours may vary. Look at Enfield. They make junk compared to the originals and are leaning on its foundings which, again in MY opinion, does not translate to the substandard crap now made.
Design, materials and workmanship.. no sale.
It is like LEVIS jeans..no longer owned by LEVI STRAUSS and the product is not made in the US. The design, materials and workmanship suck. They are crap, grossly overpriced crap. Greedy Greasy Bastards.
PS I wonder if Garner isn't related to TRUMP.
Agreed, I wouldn't expect TVS to do anything for the pensioners, classy move though that may be, but at the very least refunding the riders who put money down for Norton's that were promised and never delivered would probably go a long way to building brand loyalty with those who were burned.
Great video, all true. This guy caused so much pain, he should have gone to prison. UK
Yup. So disappointing that he will hurt those people late in their lives, and their families, and get away with it.
probably had the money to hire a amazing legal team 😤 no prison time!
Now that's probably the truth
Paid for by the very people he burned... Greasy.
Pity
Agreed. Very unfortunate.
Shop lifters get heavier sentences.
And often they actually need what they're taking. No one needs an Aston Martin, let alone 6.
Did you really expect anything else???
I guess as a foreigner I just didn't know any better and had blind faith in the British justice system 🤷🏻♂️
He bought 2 huge gamefarms in South Africa. Then just put it in his wife name. Lots of exotic game on it.
So sad...
Greasy.........I just quoted you and got warned I was violating community standards. Heh Heh
Hahaha. Right here in the comments? Bit of a double standard but I don't make the rules. Sorry! 😂
8 months that might as well be nothing + declaring bankruptcy so he won’t have to pay shit either? Some “justice system” same with the USA you could probably get that sentence for stealing dinner… some justice.
It's sad, right?
@@YouMotorcycle Sad doesn’t begin to cover it but damned if I can think of a better word so yeah.
One word to sum it up how?
Seriously. It's crazy that it got this far.
Certainly not a logical consequence of his actions !
He needs some owner-assisted karma.
Just reading @Banditmanuk reply down below I think tells the story in detail. I hope this an goes to jail and karma hits him the rear in prison. Eric
Gotta hope something else comes up because as it stands right now he won't be serving any time for this. Absolutely nuts.
Not the ending many would hope for... this fellow must be getting good at hiding.
Apparently owns a ranch or some land in South Africa so my guess is he's literally hiding at the end of the earth for the next two years
Years ago when I was interested in purchasing a Norton rotary I was told I had to buy 8,000 lb worth of stock in the company, I had more sense than to buy expensive pieces of paper that was worthless except to wipe your ass with. Is sharing how many fraudulent scandalous owners Norton I don't see how anybody in good faith could recommend anybody buying stock in their company simply because of their previous history. Of course it's not any different from the old BS a company whose managing director's wife had gold-plated bumpers on her Rolls-Royce. Frankly I don't understand why you English have not boil them in oil? You guys used to be really good at that type of thing, not to mention the Tower of London!
LOL. "An open letter to the English, by Frank Markovci Jr."
It's pretty wild that they wanted you to buy stock in order to buy a bike. That's a serious red flag. Glad you were able to see through it!
@@YouMotorcycle when this happened it was almost 40 years ago and unfortunately things have not changed for Norton.
How the hell did he stay out of prison?? He supported Brexit, so we shouldn't be that surprised that this has happened...
It's all very greasy
@@YouMotorcycle ...he was an arrogant, smarmy character who stitched up some good people, He gloried in opinions on many things that he knew nothing about...
Has been summarised well by Banditmanuk and I also recommend anyone interested to follow his suggested links. I don't think the new owners deserve to be implicated in any of Garners shit.
Yep, think you're right Tom. New Norton do appear to be doing the right thing so far. Struggling to see how they are going to recoup their investment after building the new factory.
Are they doing anything for those who put deposits down or paid in full but never got their money back?
Reminds me of the Avanti automobile company final sad days.
I'm not familiar with this story but I'll look into it!
British justice?
I guess so!
Should have launched a norton crypto coin first, would have worked
LMAO. You're not wrong.
Then you do what? Tell me. its crucial situation, if bancrupt its need money injection, not just talk or jus comment tought of situation. If tvs not move forward, do you want to pay ans save it? As an fact who use norton car??? So what do we should called u then??? U must meet the fact tht norton an england bussines is bancrupty. And it save not by english or american, but indian. Thats the fact not assumption as u need to labeling ppl
What?
@@YouMotorcycle ya, you. Wht ecxatly you doing? Are u speak latin?? Know english? Or dont know wht to answer
@@YouMotorcycle you wanna save norton?? But too late??
@@adhisanjaya235 just because you put a bunch of words in English together, doesn't mean I know what you're trying to say, and no, I have no interest in saving Norton.
@@YouMotorcycle yaa with english, wich i think you use to comment and share your tought about the buyer, or investor. I try to honour you so try my best speak in your language about your comment. Hhhhh funny, you put your tought on others act wich you not interest about the act. England is not the owner of the world so language not must so and so. Now its difficult to invide the whole world and bcome invader.
Anyway, you not answer my question : wht you do to the situation wich norton hv to face? Wht you do? Why not answer? My be invest some your money, or what? (Your answer tell me you understand the point.) Just speak and comment ppl that already take action? Any problem you have to question? Still dont understand language? Im sorry this country just short time england/us invade. I know for sure invader habbit is put you down in many way
Stuart should go into the EV industry.
😂 why's that?