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HBOS lost GBP245 million from fraud scheme, UK court hears

By Ben Lucas ( September 26, 2016, 16:42 GMT | Insight) -- HBOS bank wrote off 245 million pounds of debt due to corrupt and fraudulent scheme involving bank employees and external consultants, a London court heard today. A former senior executive at the bank accepted cash, expensive gifts and luxurious foreign travel to set up the conspiracy that defrauded the bank, prosecuting lawyers argued. HBOS bank wrote off 245 million pounds of debt ($318 million) as a result of a corrupt and fraudulent scheme involving bank employees and external consultants, a London court heard today....

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