HBOS fraud­ster probe

Daily Mail - - City & Finance -

LLOYDS Bank has ap­pointed an aca­demic to spear­head an in­ves­ti­ga­tion into whether it should com­pen­sate cus­tomers who were vic­tims of fraud com­mit­ted by for­mer HBOS staff.

Busi­ness ex­pert Pro­fes­sor Rus­sel Griggs was cho­sen for the role be­cause of his knowl­edge of small- and medium-sized firms.

The bank, which now owns HBOS, pledged last month to pay com­pen­sa­tion once it had as­sessed all cus­tomers who may have been af­fected by crim­i­nal ac­tiv­i­ties linked to the for­mer HBOS of­fice in Read­ing.

A group of cor­rupt fi­nanciers were jailed last month for car­ry­ing out a £245m loans scam and spend­ing the prof­its on pros­ti­tutes and lux­ury hol­i­days.

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