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The Worst Bank in the World? HBOS’s Calamitous Seven Year Life

February 27th, 2010 (updated June 22nd, 2012) HBOS’s entrance on The Mound; Image: The We Lessons must be learnt from the short and calamitous history of HBOS, the bank which effectively went bust in September 2008, writes Ian Fraser (Note: This article was first posted under the headline “HBOS: When did the rot set in? […]

June 22nd, 2012 | Posted in Blog | Read More »

Board’s role ‘off limits’ in police probe of alleged £1bn HBOS fraud

By Ian Fraser Published: Sunday Herald Date: July 10th, 2011 THE police force investigating an alleged £1 billion fraud at the former Reading operation of HBOS has no plans to probe the possible role of the bank’s former senior executives and board directors in the scandal. Thames Valley Police, working in conjunction with the Serious Organised […]

July 10th, 2011 | Posted in Article Library | Read More »

Police dossier says former HBOS directors failed to act on fraud allegations

By Ian Fraser Published: Sunday Herald Date: March 13th, 2011 FSA and Business Secretary Vince Cable among those handed evidence linked to Operation Hornet investigation into alleged £1 billion scam.  An alleged £1 billion HBOS fraud was known to former directors of the state-rescued bank, but they failed to act on the information, sources close […]

March 13th, 2011 | Posted in Article Library | Read More »

Former HBOS banker bailed over alleged money-laundering

By: Ian Fraser Published: Sunday Herald Date: October 3rd, 2010 A former HBOS banker who has been linked to an alleged money-laundering scandal was arrested and bailed last week by the economic crime unit of Thames Valley Police. In the first arrest of a financier on suspicion of criminal behaviour from the UK’s state-rescued banking […]

October 3rd, 2010 | Posted in Article Library | Read More »

BoS Reading saga suggests something was rotten at heart of HBOS [Nov ’08]

[Editorial Note: This article was written in November 2008 but has never been published before in its entirety. An edited version was published in two parts (part one and part two) by the Glasgow-based Sunday Herald on November 30th, 2008] [with minor revisions and links added October 2nd, 2010.]   Lloyds TSB recently mailed a circular […]

July 18th, 2010 | Posted in Blog | Read More »

Could the FSA be getting serious about HBOS wrongdoing?

February 23rd, 2010 Jo Dawson and Dan Watkins, the two senior executives who resigned from Lloyds Banking Group on February 5th 2010, were apparently forced out after the FSA told them that, unless they made themselves scarce, it intended to strip them of their “approved person status”. Or so rumour has it. There has been […]

February 23rd, 2010 | Posted in Blog | Read More »

It’s time Gordon Brown and Lloyds came clean on HBOS

January 9th, 2010   A multimedia campaign was launched yesterday on twitter and Facebook to try to persuade Eric Daniels, the chief executive of Lloyds Banking Group, to see sense. There’s also a powerful new website, STOP HBOS. Already this evening more than 300 people have joined the STOP HBOS group on Facebook and I […]

January 9th, 2010 | Posted in Blog | Read More »

Examining HBOS

November 3rd, 2009 (first published June 9th, 2009) [Note: comments on this post have been disabled and earlier comments from witnesses have been removed as a result of the current Thames Valley Police and Serious Organised Crime Agency investigation and expected trial. Ian Fraser, January 5th, 2011. Minor edits on January 29th, 2012] A recent […]

November 3rd, 2009 | Posted in Blog | Read More »

The extraordinary lapses that caused HBOS’s collapse

May 28th, 2009 Introductory note: An edited version of this article was published on the BBC News website under headline Why did HBOS make risky loans on May 27th, 2009. All the current and former HBOS insiders interviewed for this article did so on condition of anonymity.  Soon after it was formed from the merger of […]

May 28th, 2009 | Posted in Blog | Read More »

HBOS faces hard questions overuse of troubleshooters who misappropriated company money

By Paul Hutcheon and Ian Fraser Published: Sunday Herald Date: November 29th, 2008 MPs demand answers over role of consultant and actions of sacked Bank of Scotland executive Investigation by Paul Hutcheon and Ian Fraser HALIFAX Bank of Scotland (HBOS) is refusing to explain why it used two businessmen with a history of misappropriating company funds […]

November 30th, 2008 | Posted in Article Library | Read More »