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The HBOS Reading trial finished on 2 February 2017. In April 2017 Lloyds Banking Group (LBG) commissioned Professor Russell Griggs to oversee a compensation scheme for the victims of HBOS Reading. The scheme concluded all of the victims businesses would have failed despite the Reading fraud and therefore only awarded compensation for D&I ...
Britain's National Crime Agency is expanding a review into fraud allegations at HBOS, part of Lloyds Banking Group, that have already led to the jailing of six people in a scam that pushed ...
But it revealed charges for past misdeeds of £1.3 billion over the year, with a £775 million hit in the fourth quarter, including £600 million for the HBOS Reading scandal, which took place ...
Lloyds Banking Group has been criticised for failing to compensate, or even apologise to, victims of fraud perpetrated by employees of HBOS. [94] [95] LBG was accused of treating the whistle-blowers involved in the HBOS Reading fraud poorly. Customers Paul and Nikki Turner presented evidence of the fraud to the board but were ignored.
The HBOS Group Reorganisation Act 2006 (c. i) is a local act of Parliament, passed by the Parliament of the United Kingdom in June 2006. The aim of the act was to provide HBOS plc, a banking and insurance group in the UK, the legal authority to reorganise its subsidiaries into a simplified structure. It came into effect on 17 September 2007.
Metropolitan Police detectives are looking at “potential fraud offences” committed during the Horizon IT scandal. More than 700 Post Office branch managers were handed criminal convictions ...
On 23 April 2015, Deutsche Bank agreed to a combined US$2.5 billion in fines – a US$2.175 billion fine by American regulators, and a €227 million penalty by British authorities – for its involvement in the Libor scandal. The company also pleaded guilty to wire fraud, acknowledging that at least 29 employees had engaged in illegal activity.
The scandal came to light after Wolfe began asking questions about how a poor state rejected more than 90% of the people who applied for welfare. She wanted to know where the federal money was going.