The chancellor may soon be able to sell off the government’s remaining shares in Lloyds,but the years since the group’s bailout have been strewn with upsetsWhen Lloyds Banking Group final week finally accepted responsibility for compensating the small business customers who were victims of a £245m fraud involving HBOS Reading, it was again forced to face up to the nasty surprises that lurk inside the once quick- growing bank it took over during the 2008 crisis.
As the judge sentenced former HBOS Reading manager Lynden Scourfield and five associates to more than 47 years of combined jail time, and he described him as “utterly corrupt” and driven by “rapacious greed” uncovered after an investigation by Thames Valley police. Anthony Stansfeld,police and crime commissioner of the local force, pointed out that the fraud “either displays complicity or incompetence, and a lack of corporate governance,complacency, and an absence of proper safeguards”.
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Source: theguardian.com