Barely A Day Passes Without At Least One New Financial Scandal Coming To Light

February 17, 2014 tags: Blog, News

As safe as the Bank of England was the old saying. I fear the force of this has been lost in recent times. Barely a day passes without at least one new financial scandal coming to light, on a scale that if practised by drug dealers and robbers would lead to massive sentences of imprisonment. CB is currently retained in a matter in a UK dependent territory, where one of the big 4 banks has lent £10m on a property worth £2m at most. To take the toxic loan off the books and out of view of their auditors they have paid the loan off from our clients' current account, which now stands at £8m overdrawn. No fun going to the ATM for them. We are also involved in cases where interest rate margins on tracker mortgages have been increased where the BoE rate has remained unmoved. Test and group cases against at least 4 major UK and Irish lenders are pending. Watch this space. Bank OF England

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