Immediately after the passing of the 1982 Act, evidence came to light and internal disciplinary proceedings were commenced against a number of underwriters who had allegedly siphoned money from their syndicates to their own accounts. These individuals included a deputy chairman of Lloyd's and some of its leading underwriters. Successful marine underwriter Ian Posgate was expelled under suspicions but later acquitted of criminal charges; his name remained tarnished and he did not return to the market, retiring to run his Oxfordshire farm until his death in 2017. A greater debacle arose when Peter Cameron-Webb and Peter Dixon, of PCW Underwriting Agencies, allegedly defrauded their business of some $60m through rigged reinsurance transactions and fled to the United States and never returned.