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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 ...
Lloyds Banking Group has been criticised for failing to compensate, or even apologise to, victims of fraud perpetrated by employees of HBOS. [96] [97] 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.
One reason for undertaking an investigation into the audit, was that the audit did not reveal the HBOS Reading branch fraud. [158] HBOS, and subsequently Lloyds Bank, accountant Sally Masterton wrote the Project Lord Turnbull Report which described how the Bank and other organizations reacted to the Reading Branch fraud. [159]
More than 700 branch managers were handed criminal convictions in a major miscarriage of justice.
One expert says banks are struggling to keep up with fraud investigations. This Denver woman’s savings account was accessed, drained of a whopping $7,363 by a scammer — but the bank first ...
Elizabeth Holmes was born on February 3, 1984, in Washington, D.C. [12] Her father, Christian Rasmus Holmes IV, was a vice president at Enron, an energy company that later went bankrupt after an accounting fraud scandal.
Some addressed high-profile scandals such as the pandemic fraud allegations and a troubled light-rail project – whose genesis predates Walz but is currently monitored by 17 Walz appointees ...
Following the October 2008 bailouts of RBS, HBOS and Lloyds TSB together with Lloyds TSB's January 2009 merger with HBOS, the Government was holding a 43% stake in Lloyds Banking Group, but then on 6 March 2009, after it became apparent that the HBOS merger had been bad for Lloyds since HBOS had made losses of £11bn, the Government announced it would increase its stake in Lloyds to 65% (77% ...