15 thoughts on “Deutsche Bank, scandals bank

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  7. Tuesday 31st January 2017

    posted by Morning Star in Britain

    ‘Posh twat bankers’ splurged cash on ‘boys’ jollies’

    SIX corrupt financiers face jail after carrying out a £245 million loan scam, splurging the profits on prostitutes and luxury holidays.

    Consultant David Mills, 59, bribed HBOS bank manager Lynden Scourfield, 54, with sex parties and “boys’ jollies,” a court heard yesterday.

    The perks came in exchange for him agreeing inappropriate loans to struggling businesses, which allowed Mr Mills and his associates to profit from high consultancy fees.

    Many of the businesses went bankrupt as a result and some of the owners lost their homes.

    Mr Mills and his wife Alison Mills, 51; Michael Bancroft, 73; Mark Dobson, 55; and John Cartwright, 71, were convicted of various roles in the fraud, which ran between 2003 and 2007, after a four-month trial at Southwark Crown Court.

    The Crown Prosecution Service fraud division’s Stephen Rowland said: “This had a very real impact on a lot of people, individuals who had worked hard to build up companies.

    “They found themselves losing their companies and in many cases losing their homes as well as suffering enormous emotional strain and trauma.

    “There’s no way this was a victimless crime — as a result of this crime, real people suffered great hardship.”

    Mr Scourfield, who pleaded guilty last year, looked after corporate customers experiencing financial difficulties at HBOS’s branch in Reading until he resigned in 2007.

    One company, Clode, was operating within its £2.9m overdraft in 2002 when a meeting was held to discuss its financial position. Its total indebtedness to the bank by 2007 topped £20m.

    Mr Mills lavished Mr Scourfield with clothes, jewellery, luxury hotels, business-class flights and expensive meals at an oyster bar and a cheesecake restaurant.

    His wife also played an active role in the scheme. She invited Mr Dobson and Mr Scourfield and his wife on trips to Ascot. Mr Mills, Mr Bancroft, Mr Scourfield and their wives holidayed in Barbados to celebrate her 40th birthday.

    Mr Mills treated Mr Scourfield to a £3,000 Cartier watch, a Barbados trip and a six-star all-inclusive Mediterranean cruise.

    The pair attended several parties with high-end escorts at a flat in west London where a number of sex acts were carried out.

    One woman who worked at Fantasy — a porn magazine company in Scourfield’s portfolio — said she was asked to arrange girls for her boss’s “posh twat banker friends.”

    Sentencing is on Thursday.

    http://morningstaronline.co.uk/a-0335-Six-face-jail-for-245m-HBOS-loans-scam#.WJCMePKbIdU

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