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Former Hsbc Clerk Jailed For 9 Yrs For £72m Fraud

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Judge Rivlin compared the maximum 10-year sentence available to the 14 years that could be passed for handling and burglary. But he said he must nevertheless "do all that I can to deter those employed by financial institutions from committing such offences".

He added: “Where anyone acting in flagrant breach of trust and attempts to steal many millions of pounds, the sentence will inevitably be a very long one."

Detective Sergeant Martin Peters said: “This crime is believed to be one of the largest frauds of its kind and it is thanks to the prompt response of the police and the banks that the money was recovered.

“The City of London Police takes a robust stance against members of staff that abuse their position and steal from their employer.”

Er, not quite sunshine

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If he was management, HM Government would have made him a knight of the realm and given him a position in the House of Lords. That's what happens when little people steal.......

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Northern Rock paid around £150,000 to their former chief executive's cricket club as he led the troubled giant into financial meltdown.

Adam Applegarth's club received a donation of £100,000 and agreed a £50,000 unsecured loan in the months prior to the collapse which led to the Bank of England £27billion rescue of Northern Rock.

Applegarth, 45, was playing for Sunderland cricket club when the donation and loan were agreed - and has continued to turn out for them since his resignation.

Applegarth has already been criticised after it was revealed he made £2.6million by trading in his Northern Rock shares while publicly urging investors to buy more. He also received a £1million payout when he resigned last summer.



Edited by Little Professor

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  • 395 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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