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What the HBOS fraud tells us about the state of British banking

In Blog by Ian Fraser

8 February 2017 The £1 billion HBOS Reading fraud, my part in exposing it, and what it tells us about the state of British banking   Note: This is a fully revised, updated and extended version of ‘Mafioso bankers and my part in their downfall‘ published in the Sunday Herald on 5 …

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Mafioso bankers and my part in their downfall

In Article Library by Ian Fraser

By Ian Fraser Published: Sunday Herald Date: 5 February 2017 ON Thursday, two bankers and four consultants were jailed for their part in a £245 million loans scandal which caused the destruction of up to 200 viable small-business customers of the bank HBOS, and is thought to have caused losses …

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UK regulators pronounce on HBOS

In Article Library by Ian Fraser0 Comments

By Ian Fraser Published: Financial Intelligencer Date: 18 November 2015 Seven years since HBOS crashed and burned, we are about to find out why, from a report to be jointly published on Thursday morning by the UK’s Financial Conduct Authority and Prudential Regulation Authority (part of the Bank of England). …

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HBOS whistleblower hits back at Crosby claims

In Article Library by Ian Fraser0 Comments

By Ian Fraser Published: Sunday Herald Date: December 9th, 2012 Paul Moore, the whistleblower whose evidence was key to last week’s hearings of the parliamentary commission on banking, has accused his former HBOS boss Sir James Crosby of “trying to rewrite history” about Moore’s sacking from the Edinburgh-based bank. In an interview …

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Lord Stevenson: delusional or dishonest?

In Blog by Ian Fraser0 Comments

December 9th, 2012 Having endured three and half hours of the “evasive, repetitive, unrealistic” former HBOS chairman Lord Stevenson last Tuesday, I was amused to read what Kate Burgess had to say about the fiddle-playing peer in the Financial Times’ Lombard column on Wednesday. God Bless Lord Dennis Stevenson. The former HBOS …

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Sir James Crosby, the ex HBOS boss, and the concept of mercy

In Blog by Ian Fraser1 Comment

December 1st, 2012 In a comment piece in Saturday’s Times, financial editor Patrick Hosking gave ten reasons why the Parliamentary Commission on Banking Standards must show absolutely no mercy to the former HBOS chief executive James Crosby when he appears before it at 3.30pm on Monday afternoon. This is no time for faux deference, taking mendacious …

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It’s time the FSA learnt the lessons of Hillsborough. Eventually the truth will out

In Blog by Ian Fraser2 Comments

17 September 2012 (Updated 11.25am) Studiously ignoring the roles of “establishment” figures like Sir James Crosby and Lord Stevenson in the demise of disastrous Edinburgh-based bank HBOS, regulator the Financial Services Authority is seeking to heap all the ordure on the less establishment Peter Cummings. I am not suggesting that Cummings is …

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Corruption allegations, major fraud inquiries, links to pornographic magazines … and a luxury yacht. Welcome to the world of banking 2012

In Article Library by Ian Fraser4 Comments

By Ian Fraser Published: Sunday Herald Date: July 22nd, 2012 Editorial note: This is a more detailed and complete version of an article published in the Sunday Herald on July 22nd, 2012. Police are poised to press charges against several HBOS bankers and consultants after a two-year investigation into large-scale …

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Loss of trust

In Article Library by Ian Fraser0 Comments

By Ian Fraser Published: Signet Magazine Date: July 16th, 2012 (minor edits March 28th, 2013) Scottish banking was once renowned for prudential management. Today the association is rather different. Financial journalist Ian Fraser gives his view of events behind the collapse of RBS and HBOS and calls for a Leveson-style …