Noel Edmonds reaches compensation deal with Lloyds over scam
A statement from Lloyds, on behalf of both parties, said:"Mr Edmonds and Lloyds Banking Group have reached an agreement in their dispute."
It said the group will continue to assist the ongoing police investigation into matters relating to Unique Group and HBOS Reading.It was revealed they squandered the profits on high-end prostitutes and luxury holidays.Clockwise from top left: Michael Bancroft, David Mills, John Cartwright, Mark Dobson and Alison Mills were all jailed for the HBOS scam
Mr Edmonds, 70, was one of the most high profile victims of the scam and took action against the bank, saying in 2018 they will"have to pay up".He previously revealed he considered taking his own life as a result of his financial situation thanks to the scam. Lloyds rescued HBOS at the height of the financial crisis and the Reading scandal has loomed large over the bank.An independent inquiry chaired by Dame Linda Dobbs is investigating whether the fraud was properly investigated and reported to authorities by Lloyds following its acquisition of HBOS and whether any individuals sought to cover it up.
The statement from Lloyds added"both parties also agree to place their trust in the independent inquiry".
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