HBOS fraud charges “further stain” on sector
Anil Rajani, partner and head of the business investigations and governance team at IBB Solicitors, said charges of senior managers once again highlights the need for proper due diligence and checks and balances.
Mortgage Introducer told this morning how two former senior managers at HBOS have been charged along with six other people in connection with business loans worth £35m which originated HBOS’s Impaired Assets team based in Reading.
Lynden Scourfield, 50, is charged with one count of conspiracy to corrupt, three counts of fraudulent trading and one count of money laundering and Mark Dobson, 52, is charged with one count of conspiracy to corrupt.
Both were senior managers based at Reading and Bishopsgate, London.
David Mills, 56, and Michael Bancroft, 69, of Quayside Corporate Services, a turnaround consultancy, have also been charged along with a fifth man, John Cartwright, 68.
The other defendants are three of the men’s wives, Jacqueline Scourfield, 50, Alison Mills, 47, and Beverley Bancroft, 64.
Rajani added: “The referral of this matter by the Financial Services Authority to the Thames Valley Police Economic Crime Unit also shows how closely various authorities are now working together to combat alleged corruption and fraud within the banking sector.”
All eight will appear before Reading Magistrates’ Court on 18 January.