RBS accused of ‘systemic’ fraud and forgery

The Week, 16.02.17

 

Royal Bank of Scotland stands accused of “systemically manipulating documents to cover up wrongdoing”, says the BBC.

 

The bank is facing claims from a number of businesses that it forced them into financial distress and even caused them to fail.

 

But there are allegations that the bank was involved in similar practices even before the crash. One former employee, Mark Wright, says he was “suspicious of wrongdoing from 2005 to 2012”.

 

He told BBC Radio 4 that he was the subject of five falsified complaints from five of his customers in 2005, which were “concocted” by two staff at the bank’s compliance unit.

 

The five customers later submitted statements contradicting the bogus complaints and the two accused compliance staff subsequently left RBS, but Wright says he was never given the status of whistle-blower.

 

“Wright claims his standing within the bank suffered enormously as a result of his action…

 

His employment status within RBS was changed to ‘undesirable’ when previously he had been classed as ‘excellent’. Bonuses were also stopped.”

 

RGL management is representing 300 business customers in a planned court action which includes allegations of fraud and document tampering.

 

Specific cases cited by the BBC include that of former Metropolitan police sergeant Andy Keats, who “claims that fraud by RBS destroyed his security business in 2007”.

 

Another RBS customer, builder Clive May from north Wales claims the bank deliberately made his company insolvent in 2011 after it illegally sold him a government Enterprise Finance Guarantee loan to which he was not entitled.

 

RBS categorically denies document manipulation and forgery.

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