Lloyds Banking Group faces a £280m claim in the High Court over alleged involvement in a £1.2bn fraud linked to Arena, a collapsed TV equipment business. Arena’s liquidators, from Kroll, claim that owner Richard Yeowart misappropriated funds and presented falsified equipment serial numbers to secure multiple loans. The court ruled that key aspects of the claim should proceed to trial, which could clarify banks’ responsibilities in fraud cases. Lloyds stated: “We are continuing to robustly defend the claim.” The Serious Fraud Office is investigating the matter.
High Court to hear Lloyds fraud claims
11 responses to “High Court to hear Lloyds fraud claims”
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