Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Ex-HBOS managers charged in £35m fraud case

Ex-HBOS managers charged in £35m fraud case

Two former HBOS managers are among eight people to have been charged by police in connection with an alleged £35 million fraud, according to reports.

Lyndon Scourfield, 50, and Mark Dobson, 52, former senior managers in HBOS’s Reading and London offices, have been charged with conspiracy to corrupt.

The allegations involve kick-backs being paid to bank managers to hand contracts to a group of external consultants.

Scourfield is alleged to have received ‘numerous high-value gifts’ from Quayside Corporate Services (QCS), a turnaround consultancy founded by former NatWest banker David Mills, in return for appointing QCS to administer bank loans to corporate clients.

Mills is among the eight charged alongside fellow consultant Michael Bancroft, along with their wives Alison Mills and Beverley Bancroft, and ‘associate’ John Cartwright. Scourfield’s wife Jacqueline Scourfield has also been charged.  

All eight have been released on bail and ordered to attend a hearing at Reading Magistrates Court later this month.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Picton: the UK property hotspots for rental income

Picton: the UK property hotspots for rental income

Picton Property Income CEO Michael Morris reveals how he is planning to ride the ‘ripple effect’ as UK economic growth spills out from the capital across the country.

Brewin's Foster talks financial crisis MkII with Allianz's Riddell

Brewin's Foster talks financial crisis MkII with Allianz's Riddell

This week Brewin Dolphin's head of research talks to Mike Riddell, fund manager at Allianz Global Investors, about the forces driving bonds markets in a tumultuous week for markets.

Play Henderson's Hermon: how to be defensive in smaller caps

Henderson's Hermon: how to be defensive in smaller caps

Hermon, who manages the Henderson Smaller Companies trust, talks about he will tackle a 'challenging' 2016.

Your Business: Cover Star Club

Profile: 'what we are doing at Mosaic is Darwinian'

Profile: 'what we are doing at Mosaic is Darwinian'

The changes in financial services over the last few years may leave some destitute warns Marco Sambucci of Mosaic Money Management

Wealth Manager on Twitter