Lloyds Appoints Reviewer For Victims Of £245M Fraud

Law360, London (March 20, 2017, 7:06 PM GMT) -- Lloyds Banking Group PLC said Monday it has appointed Professor Russel Griggs to independently review the cases of business customers who fell victim to a £245 million ($303 million) loan scam involving former employees at its subsidiary HBOS PLC.

The Scottish businessman and professor, who has overseen earlier investigations into the banking industry, will decide the outcome of individual customer cases and set the scope and methodology of the review process to determine who is eligible for compensation.

“Professor Griggs was selected for his experience in overseeing...
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