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Ex-HBOS Bankers Accused of Getting Travel, Escorts in Fraud
Ex-HBOS Plc bankers accepted expensive gifts, luxurious foreign travel and high-class escorts to establish relationships that allowed co-conspirators to take control of troubled businesses in a fraud that lost the U.K. bank 245 million pounds ($317 million), prosecutors said. David Mills, a turnaround consultant, is on trial in London, accused of establishing a “corrupt relationship” with Lyndon Scourfield, the lead director of HBOS’s impaired assets division. They used Mills’s firm between 2003 and 2007 to take over ailing businesses, increasing the companies’ debts to unsustainable levels and commanding ... (full story)