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Former HBOS managers charged in £35m corruption case 9 January 2013

Eight people have been charged in relation to business loans of around £35m in value made through a Halifax Bank of Scotland (HBOS) branch.

The charges follow an investigation into corruption and other offences which are alleged to have originated from the impaired assets team at the HBOS branch in Reading, Berkshire.

Lynden Scourfield, 50, and Mark Dobson, 52, both former senior managers at HBOS in Reading and Bishopsgate, are charged with conspiracy to corrupt.

Also charged as part of the same conspiracy to corrupt are David Mills, 56, and Michael Bancroft, 69, of turnaround consultancy Quayside Corporate Services (QCS), according to the Crown Prosecution Service (CPS).

Sue Patten, head of fraud at the CPS, said: “The allegation is that Scourfield was provided with numerous high value gifts by Mills and Bancroft in return for appointing QCS to administer bank loans to companies in difficulty.

“The evidence suggests that Dobson was a party to this relationship, which was in place between January 2003 and September 2010.”
The wives of Scourfield, Mills and Bancroft also face charges.

Jacqueline Scourfield, 50, Alison Mills, 47, and Beverley Bancroft, 64, have each been charged with one count of money laundering.

John Cartwright, 68, an associate of QCS, is charged with one count of fraudulent trading.

Thames Valley Police’s Economic Crime Unit carried out the investigation after the case was referred by the Financial Services Authority.

Patten added: “This decision to prosecute was taken in accordance with the code for Crown Prosecutors.

“We have determined that there is a realistic prospect of conviction and a prosecution is in the public interest.”

All eight have been released on bail to attend Reading Magistrates Court on 18 January 2013.

 

 

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