Dominic Chappell, the businessman who bought failing retailer BHS for £1, has been found guilty of failing to hand over information to The Pensions Regulator.
Chappell's lawyer claimed he was being used as a "political scapegoat" by the watchdog, which he claimed was desperate to be seen to be taking action after "15 years of negligence".
But Chappell was today found guilty of three charges of refusing to provide information about two of BHS's pension schemes, which had around 19,000 members between them.
During the trial, Chappell claimed he had seen Sir Philip Green's staff shredding "bin bags" full of documents just before he purchased BHS in 2015.
However Judge William Ashworth said Chappell was not a credible witness, and that parts of his explanation had made no sense.
The judge deliberated for six hours before delivering the verdict at Brighton Magistrates Court.
The proceedings have now been adjourned for a later date, on which the fines for the offences will be decided. There is no set limit on how much he could be charged, though the highest previous fine in a similar case was £5,000.
The Pensions Regulator is understood to still be pursuing Chappell for his contribution to the black hole in BHS's pension fund, to the tune of £10m.
Former owner Sir Philip Green has already agreed to contribute £363m to the pot.