Newcastle City Council says that its pension fund does invest in the payday loan company Wonga, but it has no control over it.
It added that the council has voiced its dislike that the pension fund invests in companies which it believes 'harms the city'.
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Sandiford, a former legal secretary originally from Redcar, was convicted of drug smuggling offences and sentenced to death in 2013.
Durham Crown Court heard that one of the male victims suffered a triple-fractured jaw, while left lying in the gutter, unconscious.