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Update from Noel Edmonds.

I’ve been on an incredible journey over the past 15 months. And I do mean incredible in the true sense of the word because much of what I have seen, heard and experienced is beyond belief.

The brazen lying of Lloyds Bank executives is truly astonishing. The arrogance of their CEO, now dubbed forever Horty Nosorio, and their chairman Lord Black Horse is absolutely breathtaking. The way in which these 2 make public statements of contrition and responsibility and promise “swift action to compensate victims and return their losses” but then do very little, or in the majority of cases absolutely nothing, not only destroys public trust in the bank but also is a major stain upon the reputation of the City of London.

Andrew ‘I’m desperate to be the next Gov of the Bank of England’ Bailey, CEO of the FCA is so utterly useless that he has to be considered as complicit in the massive Lloyds cover-up which was blown apart last week.

Indeed, these 7 days will go down as one of the most significant milestones in the victim’s journey to ‘destination justice’ and the successful prosecution of former and current senior Lloyds Bank executives.

 No1 on the list has to be Horty Nosorio who knew about the findings of the Turnbull report when he took the job in 2011 but whenever asked about what he knew about HBOS criminality prior to the acquisition by Lloyds always shrugged his shoulders and said ‘I know nothing’.

As I’ve said before, surely the CEO of a major bank should know everything about the past and present operations of the bank particularly where there is proven wrongdoing and criminality? For Horty Nosorio to claim ignorance means he is either a liar or a shit banker. Whichever he is Nosorio is unfit to occupy any position in the finance industry.

So why do I believe the last 7 days are so significant and momentous?

Lloyds Bank has always denied knowledge of the wrongdoing in HBOS. However this position is now untenable. The Thames Valley police and crime Commissioner Anthony Stansfeld tore into Lloyds bank executives in his interview on Channel 4 news. He did not mince his words. He stated categorically that Lloyds Bank had known about the criminality since 2008 and 3 chairman, CEO’s and senior counsel all new about the crimes but chose to cover them up.

The Turnbull report has been suppressed since 2013. Lloyds Bank highly paid lawyers have threatened anyone and any organization with dire consequences if the report was made public. However a very brave whistleblower has defied the threats and the Thames Valley police, the National Crime Agency and campaigners Paul and Nikki Turner have all seen the report, which utterly destroys the remaining credibility of Lloyds management. I’ve been aware of the report for almost a year and have read large sections of it.

Another significant development has been the involvement of one of those currently behind bars! Michael Bancroft, is serving 10 years for his part in ‘the worst crime in UK banking history’. Last week he decided it was time to confess and he wrote a damning letter to the MP Kevin Hollinrake who then under Parliamentary privilege launched the most incredible attack upon Lloyds bank.

So what is going to happen next? There are now a number of very important issues all of which are very bad news for Lloyds Bank and its management:

  • How will the board explain their reasons for the cover-up and years of lying when they are cross-examined by shareholders at the forthcoming AGM in Edinburgh?

  • Lloyds always refer to the crimes as the ‘Reading incident’ but the Turnbull report makes it very clear that the criminality was much more extensive and was systemic within the whole region of London and the South East and the wrong doing was orchestrated by senior management at the London HQ, Bishopsgate.

  • Lloyds always refer to just a ‘few rogue bankers’ in the Reading office but we now know there were many others involved in the criminality.

  • Indeed, Thames Valley police are already treating my case as a criminal investigation. Whilst I cannot for obvious reasons reveal details it is reasonable for you to presume that TVP and now the National Crime Agency would not be spending public money on further ‘Operation Hornets’ if they did not believe there would be prosecutions that were most certainly in the public interest.

  • My lawyers originally intended to commence proceedings against Lloyds Bank weeks ago but the delay is because the private investigators I have retained are unearthing a wealth of information which proves beyond any reasonable doubt that not only am I a victim of crime but the criminality extends way beyond the activities of my former bank manager Mark Dobson now serving 4 1/2 years in prison.

  • Obviously all of the information that I now have has been passed to Thames Valley police and it will be made available to the National Crime Agency now investigating Lloyds bank.

  • The decision by the convicted criminal Michael Bancroft to speak out and confirm the identity of many others, who the police have long suspected were involved in the crimes, is a major development.

  • When my civil action comes to court my former bank manager Mark Dobson will be brought to court in a prison van. Now that Bancroft has decided to speak out I wonder if Dobson will choose to protect Lloyds Bank or decide that honesty really is the best policy and name those who masterminded the crimes?

There is now a real sense that the momentum is gathering pace and is unstoppable. The police, the media and politicians of all parties are on a mission and the Black Horse could be brought to its knees and even destroyed. I’m not exaggerating.

 How Horty Nosorio and Lord Blackhorse handle shareholder questions at the AGM will possibly decide the fate of the whole banking group.

At the 2017 AGM they claimed there were 60ish victims who would be swiftly reimbursed for their losses. A year later not one victim has received money for ‘losses’. Also after the revelations of this week we can be certain the number of victims is in the thousands and possibly hundreds of thousands.

Last year LBG stated the proposed £100m compensation scheme would not be capped. So bearing in mind Lloyds appalling forecasting record-remember their original estimate of their PPI exposure was £90m and its now almost £19 BILLION-how much will they end up paying out?

I believe their total exposure is well over £100 BILLION !

Do Lloyds have the resources to pay that amount? When you add on their second round liabilities for underpaying on the PPI compensation Lloyds shareholders should be very worried and customers should wonder if their money is safe with LBG.

If reimbursing their victims pushes LBG to collapse the impact upon the UK economy would be massive. But sometimes in life we pay a high price for honesty and professional integrity, words that apparently are alien to the management and board of Lloyds Banking Group.