FILE PHOTO: A sign is seen outside the National Crime Agency (NCA) headquarters in London October 7, 2013. REUTERS/Stefan Wermuth
April 30, 2018
LONDON (Reuters) – Britain’s National Crime Agency is conducting a wider review into fraud allegations at lender HBOS that have already led to the jailing of five people in a scam that pushed struggling business owners to employ a costly turnaround consultancy.
The NCA said on Monday it is following up a request from Thames Valley police, who conducted the investigation that led to those original convictions, with a view to a wider probe involving allegations of fraud and money laundering.
The sums of money involved could run to many millions of pounds, the NCA said in a statement, and the review will determine whether a full criminal investigation needs to be launched.
HBOS is now owned by Britain’s Lloyds Banking Group <LLOY.L>. The initial investigation and prosecution was completed in January 2017 and related to a scam conducted between 2003 to 2008.
Lloyds did not immediately respond to a request for comment.
(Reporting By Lawrence White, editing by Silvia Aloisi)
