This article is from the source 'guardian' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.theguardian.com/business/2017/jul/25/noel-edmonds-compensation-claim-hbos-lloyds
The article has changed 5 times. There is an RSS feed of changes available.
| Version 3 | Version 4 |
|---|---|
| Noel Edmonds increases compensation claim for HBOS fraud to £300m | Noel Edmonds increases compensation claim for HBOS fraud to £300m |
| (11 days later) | |
| Noel Edmonds has increased his compensation claim against Lloyds Banking Group to £300m after he fell victim to fraud at the hands of former HBOS Reading staff. | Noel Edmonds has increased his compensation claim against Lloyds Banking Group to £300m after he fell victim to fraud at the hands of former HBOS Reading staff. |
| The former Deal Or No Deal host had originally been seeking in the region of £50m to £70m, but a new statement issued by Edmonds confirms the claim has been ramped up substantially. | The former Deal Or No Deal host had originally been seeking in the region of £50m to £70m, but a new statement issued by Edmonds confirms the claim has been ramped up substantially. |
| The amount, for losses allegedly suffered when Edmonds’ former business Unique Group was destroyed because of the fraud, is three times the amount Lloyds has provisioned for all the claims in the case. | The amount, for losses allegedly suffered when Edmonds’ former business Unique Group was destroyed because of the fraud, is three times the amount Lloyds has provisioned for all the claims in the case. |
| He said: “My lawyer Jonathan Coad, supported by our accountants and advisers, have collated a vast amount of detailed information which gives a clear picture of the scale of the destruction to my business interests and the financial losses I have suffered. | He said: “My lawyer Jonathan Coad, supported by our accountants and advisers, have collated a vast amount of detailed information which gives a clear picture of the scale of the destruction to my business interests and the financial losses I have suffered. |
| “I am advised that given the trajectory of the businesses in the period before the criminals destroyed Unique Group and my other commercial interests, £300m is actually a conservative figure.” | “I am advised that given the trajectory of the businesses in the period before the criminals destroyed Unique Group and my other commercial interests, £300m is actually a conservative figure.” |
| Lloyds, which rescued HBOS at the height of the financial crisis, has set aside a £100m pot for customers affected by the fraud, which took place between 2003 and 2007 at the hands of former HBOS Reading staff. | Lloyds, which rescued HBOS at the height of the financial crisis, has set aside a £100m pot for customers affected by the fraud, which took place between 2003 and 2007 at the hands of former HBOS Reading staff. |
| The corrupt financiers were jailed earlier this year for the £245m loans scam which destroyed several businesses, before they squandered the profits on sex parties and luxury holidays. | The corrupt financiers were jailed earlier this year for the £245m loans scam which destroyed several businesses, before they squandered the profits on sex parties and luxury holidays. |
| Edmonds described a review being carried out by the bank into the scandal as a “cynical ploy to keep victims’ compensation payouts to the bare minimum”, while claiming the fraud took place on an “industrial scale”. | Edmonds described a review being carried out by the bank into the scandal as a “cynical ploy to keep victims’ compensation payouts to the bare minimum”, while claiming the fraud took place on an “industrial scale”. |
| “The trial judge and the police have always maintained that the criminal activities went far beyond the ‘Reading Six’ and we have documentary evidence to support their views. | “The trial judge and the police have always maintained that the criminal activities went far beyond the ‘Reading Six’ and we have documentary evidence to support their views. |
| “Lloyds have also been accused of actively blocking police enquiries, which is why my lawyers are sending the Thames Valley police our documentation which I believe suggests the HBOS/Lloyds criminal activities were actually conducted on an industrial scale.” | “Lloyds have also been accused of actively blocking police enquiries, which is why my lawyers are sending the Thames Valley police our documentation which I believe suggests the HBOS/Lloyds criminal activities were actually conducted on an industrial scale.” |
| Edmonds has led a public campaign against the lender, which has seen him admit that he came close to taking his own life following the fraud. | Edmonds has led a public campaign against the lender, which has seen him admit that he came close to taking his own life following the fraud. |
| For its part, Lloyds has so far made more than £10m of compensation offers and hardship payments to customers affected by the scandal. | For its part, Lloyds has so far made more than £10m of compensation offers and hardship payments to customers affected by the scandal. |
| Thirty customers have either now received a compensation offer or are in the “detailed stages” of assessment and will receive an offer shortly, the lender said last week. | Thirty customers have either now received a compensation offer or are in the “detailed stages” of assessment and will receive an offer shortly, the lender said last week. |
| A Lloyds spokesman said: “We are determined to compensate customers appropriately, swiftly and as fairly as possible. | A Lloyds spokesman said: “We are determined to compensate customers appropriately, swiftly and as fairly as possible. |
| “While we cannot comment on individual cases, we have set aside £100m as a provision to cover the total expected redress cost. | “While we cannot comment on individual cases, we have set aside £100m as a provision to cover the total expected redress cost. |
| “This remains our best estimate, but if we need to increase this amount we will absolutely do so. | “This remains our best estimate, but if we need to increase this amount we will absolutely do so. |
| “If anyone has new information about the fraud at HBOS Reading, it should be passed to the police and the regulator.” | “If anyone has new information about the fraud at HBOS Reading, it should be passed to the police and the regulator.” |
| Lloyds Banking Group | Lloyds Banking Group |
| HBOS | HBOS |
| Banking | Banking |
| Noel Edmonds | Noel Edmonds |
| news | news |
| Share on Facebook | Share on Facebook |
| Share on Twitter | Share on Twitter |
| Share via Email | Share via Email |
| Share on LinkedIn | Share on LinkedIn |
| Share on Pinterest | Share on Pinterest |
| Share on Google+ | Share on Google+ |
| Share on WhatsApp | Share on WhatsApp |
| Share on Messenger | Share on Messenger |
| Reuse this content | Reuse this content |