Credit Strategy
LinkedIn
Twitter
0 £0.00
This item was added to your basket

Dear visitor,
You are viewing 1 of your 2 free articles


To view more free articles, please register

Free registration or Login

FCA reopens investigation into HBOS multi-million pound fraud

The Financial Conduct Authority (FCA) will reopen its investigation into the misconduct of former staff who worked at the Reading-based impaired assets team of HBOS.


Amber-Ainsley   Pritchard

Share on Twitter Linkedin black
Amber-Ainsley   Pritchard
Share on Twitter Linkedin black

This resumes an investigation that was placed on hold in 2013 at the request of Thames Valley Police, pending the outcome of the Thames Valley police investigation and any resulting prosecutions.

 

The police recently published the outcome of its six-year investigation into the multi-million-pound corruption and fraud case involving HBOS’s former employees and private business advisors.

 

In January, six people were found guilty of corruption, fraudulent trading and money-laundering offences, and have been jailed for a total of 47 years. These individuals and the sentences they were given were:

 

  • David Mills, aged 60, of Moreton-in-Marsh, Gloucestershire, was sentenced to a total of 15 years’ imprisonment;
  • Alison Mills, aged 51, of Moreton-in-Marsh, Gloucestershire, was sentenced to three and a half years’ imprisonment;
  • Michael Bancroft, aged 73, of Shipston-on-Stour, Warwickshire, was sentenced to a total of 10 years’ imprisonment;
  • Lynden Scourfield, aged 54, of Greenford, Middlesex, was sentenced to a total of 11 years and three months’ imprisonment;
  • Mark Dobson, aged 56, of Brayfield Terrace, London, was sentenced to a total of four and half years’ imprisonment;
  • John Cartwright, aged 72, of Hyde, Cheshire, was sentenced to three and a half years’ imprisonment.

 

The police said the convictions are the result of one of the largest fraud investigation of its kind in the UK.

 

The FCA’s investigation is focussing on the extent and nature of the knowledge of these matters within HBOS and its communications with the previous Financial Services Authority after the initial discovery of the misconduct.

 

 

 

 

Share on Twitter Linkedin black
Add New Comment

YOU MIGHT ALSO LIKE

The CS Interview

The patriot

The patriot

Features

Ahead of the curve: Five reasons why Intelligent Environments secured the Best Collections Technology Award
Share on TwitterLinkedin black

Ahead of the curve: Five reasons why Intelligent Environments secured the Best Collections Technology Award

Opinion

"There are upcoming opportunities for both government and regulators to step up and deliver meaningful change"

"There are upcoming opportunities for both government and regulators to step up and deliver meaningful change"

Credit 500 - 2017/2018

Will you help to shape the next Credit 500?
Share on TwitterLinkedin black

Will you help to shape the next Credit 500?

Credit Strategy
LinkedIn page

Did you find our website useful?

Thank you for your input

Thank you for your feedback

creditstrategy.co.uk – an online news and information service for the UK’s commercial and consumer credit industry. creditstrategy.co.uk is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Credit Strategy is committed to diversity in the workplace.
@ Copyright Shard Media Group