Sex parties and foreign holidays
Former HBOS bankers guilty of bribery and fraud
Two former HBOS bankers were among six people found guilty of bribery and fraud in a case that involved sex parties, exotic foreign holidays and cash in brown envelopes.
Lynden Scourfield, a former manager with HBOS, pleaded guilty to six counts including corruption.
Mark Dobson, who was also a manager at HBOS, was convicted on counts including bribery, fraud and money laundering at Southwark Crown Court.
David Mills, Michael Bancroft, Alison Mills, and John Cartwright were also convicted. One defendant, Jonathan Cohen, was acquitted.
The court heard that Scourfield accepted bribes from businessmen Bancroft and Mills to get small business customers of HBOS to use consultancy firm Quayside Corporate Services. Quayside, a turnaround consultancy offering business experience and expertise to small businesses, is run by Mills and his wife Alison.
Businessmen Bancroft and Mills arranged sex parties, exotic foreign holidays, cash in brown envelopes and other favours for Scourfield between 2003 and 2007, the BBC reported.
HBOS, which was taken over by Lloyds TSB for £12 billion in 2008, ended up writing off £245 million from Scourfield’s loan book as losses mounted.