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'Jail Or No Jail': Noel Edmonds attacks Lloyds at AGM

The TV star bought a single share so he could vent his anger at the bank's Edinburgh annual meeting.

 
'Jail Or No Jail': Noel Edmonds attacks Lloyds at AGM

Noel Edmonds attacked Lloyds (LLOY) during a heated annual meeting at the bank. 

The TV star, who is suing the bank for alleged fraud, bought one share for 67p to allow him to attend the meeting and let his feelings be known. 

Edmonds was among 20.8% of the bank's investors who voted down the bank's pay proposals, which included a 10.9% rise for chief executive Antonio Horta-Osorio, who earned £6.4 million in 2017. 

'If you want to turn it into a game show, the way you treat us, I would call it "Pointless",' Noel Edmonds said during yesterday's AGM in Edinburgh. 

'If you want to turn it into "Jail Or No Jail" you are going in the right direction.

'Things are very serious but I keep asking questions and you keep ducking them.'

In response, Lloyds chair Lord Blackwell said: 'This isn't a show Mr Edmonds, it's an AGM.

'You've set out one version of events on what you believe happened. We have a different version of events, we do not agree.

'You wish to pursue it in court and I'm happy to leave it to the court to look at the evidence and I'm happy to let the judge decide on the basis of that evidence what the right outcome is and I hope you are too.' 

Edmonds is seeking compensation from Lloyds after claiming he was on the 'brink of emotional annihilation' and 'suicidal' after falling victim to HBOS fraudsters, who he said destroyed his Unique Group venture.  

The fraud, which occurred on HBOS' Reading branch, resulted in a number of bankers and their associates jailed for a combined 50 years in 2017. 

Earlier this year Edmonds secured ligation funding from Therium Capital Management. 

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21 comments so far. Why not have your say?

PN

May 25, 2018 at 10:27

This man should go back to his French mansion. He has bleated on about a multi million pound damages claim. Let the court decide. Another 15 minutes of fame is about his limit.really fed up with him popping up every where and saying how hard done by he is.

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Norman E

May 25, 2018 at 11:55

I agree with PN, I very much doubt that Edmonds' company was ever going to be worth anywhere near what he claims.

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Nick-

May 25, 2018 at 14:48

@ PN and Norman E. You two must be working for Lloyds. The Bank of Lloyds deserves everything they get from Noel Edmonds and more. The present Chief Executive should be focusing paying back all the money they lost for the shareholders instead of filling his own pockets. They never learn. Greed on top nearly destroyed them, yet it looks as if they are going down the same path.

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Jeremy Stewart

May 25, 2018 at 16:38

What a farce. The usual "I'm a celebrity" egotistic approach expecting everyone to rally to the cause. He should keep his dispute where it belongs in a court and learn to conduct himself properly elsewhere. Sadly he is just one of a number of individuals raised to "superstar" status by the media and the public and who has failed to make the most of all the benefits consequently brought by others.

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Tony Airey

May 25, 2018 at 16:49

Surely it's the government who should be in the dock for encouraging (pleading for?) the purchase which wiped 90% off the Lloyds share price.

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CHMM

May 25, 2018 at 17:13

Oh come off it you lot, read a little about the dreadful behaviour of HBOS (and RBS), there is not a shred of decency in it, they knowingly destroyed peoples lives and livelihoods to line their own pockets.

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Duncan jones

May 25, 2018 at 17:23

While I confess to not knowing the finer details of Noels case I do remain astounded that there has been little in the way of prosecutions of bankers for their heinous activities. So one has to have some sympathy for Noels plight.

Will Fred Goodwin ever feel the force of the law as well? I wont hold my breath on that one!

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Rob Walker

May 25, 2018 at 17:37

We must add to that the failure to prosecute anyone from the FSA. Given the number of scams, mis-selling and bad guidance (on credit-score based liquidity during the crash) that they have overseen, they have taken their salaries and pensions under false pretenses.

How can millions be mis-sold products over a 10+ -year period with no intervention from the FSA? How can banks have their liquidity assessed by the credit-rating agancies when those agencies themselves so easily get it wrong?

Why are those public servants paid a forune in salaries and pensions, when they are just as culpable as the greedy bankers in crashing the banks.

At least it was Fred Goodwin's job to maximise profits in any legitimate way, it was the FSA's job to ensure what the boundaries of 'legitimate' were and in that, they failed miserably.

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Sinic

May 25, 2018 at 19:13

As objectionable as I find Noel Edmonds, I find the disreputable behaviour of Lloyds in connection with the criminal conduct of certain of their employees and the immoral and unethical behaviour of many more rather more objectionable. When you force a viable company into liquidation solely for your own gain it must by any definition be fraud. Lack of banking competence and of integrity seems to apply not only to Lloyds but HBOS (as was) and RBS. To me it is a disgrace that more bankers have not had to face criminal prosecution and we must rely on criminal proceedings such as Edmonds case to see any glimmer of justice.

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Sinic

May 25, 2018 at 19:15

My apologies I should have said 'civil proceedings'

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PN

May 25, 2018 at 20:22

very small are scum bags like the HBOs managers

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Norman E

May 25, 2018 at 21:37

I have never worked for Lloyds or RBS, and I know that some employees of HBOS have been prosecuted and jailed for what they did at Reading, but Noel Edmonds is claiming a value that seems absolutely off the wall for his company and using his "celebrity" to press his case outside court, which is the only place it belongs.

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derek farman

May 25, 2018 at 23:16

The perpetrators of the fraud should be jailed and ALL victims should be fully compensated.

There are no ifs and buts here. There is too much skullduggery at the highest levels, and examples should be made.

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CHMM

May 26, 2018 at 11:26

NE using his profile to raise this concern again and to a wider audience, whatever you may think of him, can only be a good thing for the rest of them who struggle to make their voices heard.

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Rob Walker

May 26, 2018 at 12:30

@CHMM, Hear hear !

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Top Invester

May 26, 2018 at 16:31

He paid 67p for a share of LLOY. A very poor price, shows how much business acumen he really has. Makes bad decisions then blames the lender. Noel business failed because of his decisions, no one else. It is easy to blame others. I do hope this goes to court and Noel ends up with egg on his face and has to pay costs.

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Rob Walker

May 26, 2018 at 18:45

"He paid 67p for a share of LLOY. A very poor price" whereas most major investors bought the government's share at at a much higher price. It said it sold its share at a profit to the average 73.6p a share paid to buy them during the crisis. Therefore the institutions must have paid at least that price during the intervening years.

So no, 67p isn't a poor price.

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The Colonel

May 27, 2018 at 01:32

In the US Fred the shred and all the others would be doing deservedly at least 20 years Hard time we need to adopt the same attitude here in the UK

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derek farman

May 27, 2018 at 13:35

The Colonel ....yes absolutely. When they destroy lives, destroy jobs, cause suicides, we do not even begin to punish them enough.

Fred the shred even walked away with a pension we all would envy.

That is not justice !

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CT

May 28, 2018 at 10:49

Rob Walker - have you ever heard of due diligence ? Goodwin bullied his directors to ignore it and many shareholders lives have been ruined by his megalomania. Not all bankers are bad but he definitely was and should have been locked up. Disgraceful of Cameron to wimp out and Theresa May is still paying for it with the anger of that twit Corbyn and the far left.

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Rob Walker

May 28, 2018 at 11:21

CT - at the level Goodwin worked you would expect the board were beyond 'bullying' - but the fact remains that, like the councils whose treasure investments crashed, the FSA rules on investment risk = Credit scores was proved to be woefully weak. RBS sailed close to the wind for several years and the shareholders applauded Goodwin's achievements in high dividends and share value. When the crash came the best Lord Myners could do was chop £200k out of Fred's pension. You could argue that was part of the city old-pals act, or maybe they knew they couldn't nail anything on that slimey toad Goodwin, because the FSA controls were so sloppy.

Try to get a £25k cheque cleared quickly and the bank will quote anti-money laundering rules to prevent that happening. Yet millions were mis-sold card insurance products etc by the banks under the nose of those inspectors and they couldn't spot a dodgy sale for over 10 years! Get my drift?

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