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Revealed: the hornet and the sting which are stopping us learning the truth about the collapse of HBOS

By Ian Fraser Published: Sunday Herald Date: February 26th, 2012 Results released last Friday showed a sea of red ink engulfing the state-rescued Lloyds Banking Group. Trumpeted at the time of its September 2008 formation as the “bank for Britain”, the 41%-taxpayer owned business unveiled annual losses of £3.5 billion for 2011, nearly double those […]

February 28th, 2012 | 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 »

Bust air firm may provide key to HBOS controls failures

August 28th, 2010 [Editorial Note: This article was written in June 2010 but has not previously been published in its entirety. An edited version was published in The Sunday Times on June 27th, 2010] Directors of an aviation business that crash landed owing HBOS £113 million in September 2007 were allowed to buy the business back […]

August 28th, 2010 | Posted in Blog | 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 »

Why HBOS’s Cummings should hand back his rewards for failure

February 27th, 2010 PETER Cummings, former head of corporate lending at HBOS (pictured above), is the archetypal ‘fat bloke’ banker. He was handed an astonishing £660,000 pay-off on leaving the bank he helped destroy in January 2009. Worse, the Dumbarton and Marbella resident was also, according to this Daily Telegraph article , awarded an annual […]

February 27th, 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 »

Open Letter to Gordon Brown re: HBOS/Lloyds

Rt Hon. Gordon Brown, MP 10 Downing Street London SW1 2AA 14th January 2010 Dear Mr Brown Re: HBOS Reading – Quayside Corporate Services We first alerted you to the existence and nature of the HBOS/Bank of Scotland Reading scandal 15 months ago and asked you to intervene at that point, but you don’t seem […]

January 15th, 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 »

The bank, the regulator and the Vavasseur fraud

November 8th, 2009 (first published January 2009) (Minor edit on 20 March 2014) No touch regulator? John Tiner was the FSA’s boss from April 2001 to July 2007 One of the FSA’s roles is supposed to be to protect consumers from being ripped off by crooks and charlatans in the financial world. But the City […]

November 8th, 2009 | Posted in Blog | Read More »

The unanswered questions around the emergency HBOS cash call

By Ian Fraser Published: Independent on Sunday Date: November 8th, 2009 Just four months before its humiliating collapse into the arms of Lloyds, the bank’s chairman assured shareholders that it had sufficient funds for at least a year. How could he have got it so wrong? Ian Fraser reports Lord Stevenson of Coddenham, the chairman […]

November 8th, 2009 | Posted in Article Library,Investigations,Latest Articles | Read More »

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