Lloyds has compensated just five of the 67 victims of the HBOS Reading fraud scheme, which saw six bankers jailed for a combined 47 years. The bank, which owns HBOS, had promised to agree compensation deals of $130m (£100m) before the end of June. However, offers have been made to only 16 customers, five of whom have accepted. An additional 14 cases are “in the final stage of assessment”. Lloyds has failed to offer compensation to over half of the victims, many of whom lost companies and livelihoods. Some customers are threatening legal action.
Lloyds has compensated just five of the 67 victims of the HBOS Reading fraud scheme, which saw six bankers jailed for a combined 47 years. The bank, which owns HBOS, had promised to agree compensation deals of £100m ($130m) before the end of June. However, offers have been made to only 16 customers, five of whom have accepted. An additional 14 cases are “in the final stage of assessment”. Lloyds has failed to offer compensation to over half of the victims, many of whom lost companies and livelihoods. Some customers are threatening legal action.