HBOS Fraud Confiscation Brings Total Seized To £11.3M

Law360, London (September 16, 2019, 3:58 PM BST) -- A consultant convicted for his role in a £245 million ($300 million) bank loan fraud against HBOS PLC was ordered Monday to pay £727,309, bringing the total prosecutors have recovered in the case to just over £11.3 million.

On Monday, Judge Martin Beddoe ordered Michael Bancroft to pay £727,309 because of his role in the plot, saying that he was satisfied that was the total value of Bancroft's remaining assets based on what the prosecutors said.

Bancroft worked alongside David Mills, the founder of Quayside Corporate Services and the ringleader of the scheme, which defrauded struggling businesses and also involved former...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS