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Lloyds says ex-judge Linda Dobbs to review its handling of fraud case
April 26, 2017 / 7:20 AM / 7 months ago

Lloyds says ex-judge Linda Dobbs to review its handling of fraud case

LONDON (Reuters) - Lloyds Banking Group (LLOY.L) on Wednesday said it had appointed retired high court judge Linda Dobbs to review its own handling of a fraud at the Reading branch of its HBOS unit for which six people were jailed earlier this year.

A man enters a Lloyds Bank branch in central London, Britain February 25, 2016. REUTERS/Paul Hackett

Dobbs will be tasked with assessing whether the bank properly investigated the fraud and reported it to authorities, following the acquisition of HBOS by Lloyds in January 2009 through to the conclusion of the criminal trial this year.

Lloyds also announced the timetable for a 100 million pound scheme to compensate victims of the fraud, in which bankers siphoned off cash from companies that were HBOS clients.

Lloyds said will begin making compensation offers from late May onwards, and anticipates that all affected will have such an offer by the end of June at the latest.

Reporting By Lawrence White; editing by Simon Jessop

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