Lloyds fraud victims bemoan ‘pyrrhic victory’ as compensation scheme drags
London — Lloyds Banking Group is set to miss an end-June deadline for offering compensation to victims of one of Britain’s largest fraud cases, the latest delay in a decade-long struggle by business owners for redress. Two former bankers at Lloyds’ HBOS Reading business were among those jailed in February for their involvement in the scam, which affected 64 people, including Noel Edmonds, a TV presenter and former disc jockey. Lloyds set up a £100m compensation scheme in April and set the end-June deadline for payment to victims hit by the fraud, which involved siphoning off money from struggling businesses. According to one source with knowledge of the matter, less than a fifth of the 64 victims have received compensation offers and only one has reached a settlement with the bank. Edmonds is seeking more than £70m in compensation for businesses he alleges were destroyed by the fraud. He has set up a website with an "honesty countdown" clock showing the time remaining for Lloyds to ...
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