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| Lloyds to review HBOS customer cases | Lloyds to review HBOS customer cases |
| (35 minutes later) | |
| Lloyds Banking Group, owner of HBOS, is going to review the cases of customers affected by a fraud involving two ex-employees, who were jailed last week. | Lloyds Banking Group, owner of HBOS, is going to review the cases of customers affected by a fraud involving two ex-employees, who were jailed last week. |
| Six people, including the former HBOS bankers, were found guilty of a scam involving fraudulent loans. | Six people, including the former HBOS bankers, were found guilty of a scam involving fraudulent loans. |
| The bank has been under pressure to pay compensation after it was accused of reacting too slowly to complaints from victims of the scheme. | The bank has been under pressure to pay compensation after it was accused of reacting too slowly to complaints from victims of the scheme. |
| The fraud took place before Lloyds Banking Group took ownership of HBOS. | The fraud took place before Lloyds Banking Group took ownership of HBOS. |
| "Customer cases will be considered afresh in light of all relevant evidence including new evidence that emerged during the trial," said a Lloyds statement. | "Customer cases will be considered afresh in light of all relevant evidence including new evidence that emerged during the trial," said a Lloyds statement. |
| "Since the investigation began in 2010, it was important that the group did not do or say anything that could subsequently prejudice the trial. | |
| "The group deeply regrets that the criminal actions have caused such distress for a number of HBOS business customers." | |
| Read more on the case: | |
| Former HBOS manager found guilty of corruption and fraud | |
| HBOS: A highly unusual fraud case | |
| HBOS fraud: "They caused me to give birth early" | |
| Ex-HBOS banker "sold his soul for swag" | |
| The statement explained that Lloyds would appoint an independent third party as part of the review and would agree the individual outcomes with it. | |
| It added: "Lloyds Banking Group will contact all those customers they have identified as potentially affected by the criminal activities and provide redress if appropriate. | |
| "Whilst this should result in all these customers being contacted proactively, any customer who believes they may have been affected can also raise concerns direct with LBG." | |
| Some of the victims lost their companies, livelihoods and even their homes because of the scam. | |
| Paul and Nikki Turner, from Cambridge, tried to report what was going on after their publishing company, Zenith, was run into the ground by the scammers. | |
| They said they have had to fight hard for 10 years to have the fraud recognised. | |
| Sources close to the investigation say the total value of the fraud may be close to £1bn. |