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TV PRESENTER NOEL Edmonds is taking legal action against Lloyds Banking Group, as he seeks to secure £300 million (€336 million) due to alleged fraud carried out by staff at HBOS.
The former Deal or No Deal host alleges that his former business, Unique Group, suffered was destroyed by the £245 million (€274 million) loans scam carried out by staff at HBOS Reading staff in the mid-2000s.
A number of former staff members were jailed this year, after allegations they had spent the profits from their fraud on luxury holidays and high-end prostitutes.
Edmonds had been engaged in mediation with Lloyds, but he and his legal team walked out last week amid fears it would not stick to its promise of dealing with fraud victims “swiftly, fairly and appropriately”.
His lawyer Jonathan Coad said: “One reason for our confidence is that, back in 2008, when the bank sued Noel on its personal guarantee, such was the adverse legal advice it was getting from its then-lawyers that it bribed Noel’s business partner to the tune of around £1m to stop him supporting Noel’s defence.
Since then the bank’s primary witness has been jailed, which greatly weakens its position.
Lloyds had set aside £100 million for the victims of the fraud.
A spokeswoman told Sky News that it rejected Edmonds’ claim. She said: “Despite Lloyds Banking Group’s determined efforts to reach a consensual resolution with Mr Edmonds through mediation, this has not been possible. As a result, a formal litigation process has begun.
We recognise Mr Edmonds suffered personal distress and inconvenience as a result of him interacting almost a decade ago with an ex-HBOS employee convicted earlier this year in relation to criminal conduct at HBOS Reading Impaired Assets office. However, we strongly refute that this caused his business to collapse.
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There’ll be some house party if the banker makes Noel the right offer.
@Dean Moriarity: chances are one of those high end prostitutes will end up with a crinkly bottom
@Glen Curtis: are they Tall or what ?
Great businessman, I always fly with Virgin when I can.
@Free comment ratings: Maybe mixing with Richard Branson?
@Declan Murray: sigh
@Declan Murray: Woooosh
@Sea Goat: and again
@Free comment ratings: go back asleep you plonker.Thats Richard Branson not deal or no deal noel!
@gerry fallon: dear god its not that early in the morning. Cmon wake up
It is never the Bank’s fault even if or when it is the Bank’s fault.
@Fiona deFreyne: https://www.express.co.uk/news/uk/674876/Noel-Edmonds-dresses-OLD-WOMAN-fresh-rant-at-out-of-ideas-BBC
Good for him more people should sue the banks for what they have done. They are a law onto themselves, every little account who has been fraudulently robbed take seperate action taken them to the cleaner’s.
@Mick12: the deficit is in Irish Law in relation to banking
@Mick12: Except for the small inconvenient fact that you basically have to be rich already if you wanna sue banks to make yourself richer (since they higher huge high-price legal TEAMS who drag it out to such an extent it would bankrupt the average Joe sod).
Yay Capitalism eh?
@Bryan Kelly: *hire*
@Bryan Kelly: Your alternative?
@Myk_Oval_Balls_nRyt: Fix unrestrained capitalism instead of defending the open market when all the evidence of reality shows it’s an abysmal 100% failure. I’m not advocating socialism or anarchism here before someone predictably throws that out there, but unrestrained capitalism and the free market is an utter failure and the direct cause of the majority of societal problems these days. Some of those godsdamned regulations of the banking sector people have been calling for since before the global recession would be a nice start. We haven’t even had any of the ones FG promised us after the recession yet. Instead of this ad hoc, on a case by case basis nonsense we have going on now.
Best of luck to him.. wouldn’t it be something to nail the b astards
The Bank drove this man to the edge, destroyed his marriage, and his business.
I hope he pins them to the wall !
@Isthatright: 300 million is nothing to a bank that created money from thin air with keystroked on a keyboard. Some government ministers envelopes may be a but light for a short while but on they will go fully backed up and enabled by our wonderful politicians
At least the Brits jail the crooked bankers. Leo and his mob would never jail a mate
@Seamus Grant: in Leo’s defence, it’s been going on in Ireland way before his time.
@Onion Knight: it has
@Seamus Grant: Lmao the Brits do what?!?
Keep telling yourself that. Isn’t a country in the world holds bankers accountable. What usually happens is low-level employees get thrown to the wolves as sacrificial lambs and the top brass who ordered them to do the scam on the first place and profited the most off it keep their jobs and pay a fine that’s the tiniest little non-existent fraction of their wealth.
Yay capitalism eh?
@Seamus Grant: Whuh? Come again?! Half the buggers will be on the New Year’s honours list.
Beautiful beard, wonderful suit, dashing hair.
@Feach News: Thanks.
@Feach News: the guy is a clown who believes people get cancer because of their own negative thoughts. I wish him no luck.
Banks and bankers, a blight on society.
@Dave Doyle: in Holland they are very highly controlled/regulated. it’s just Ireland.
@gregory: “It’s just Ireland” he says coz there’s ONE country where they don’t.
Nah this is unrestrained capitalism buddy, and it’s a plague on the world.
Fair play to him, goodluck
I hope Mr Blubby crashes the court proceedings.
@Watchful Axe: blobby
At least they blew the money on hookers not ice sculptures…
No deal so…
fair play to him. 300mln would buy a lot of hockers
I hope he wins, most banks are just sophisticated crooks. Just look at the lies and misinformation our own banks disseminate and the disgusting manner with which they treat people regarding their tracker mortgages.
Edmonds has the financial war chest to pay for a good legal team and pursue his claim through the courts,Most of our victims of the Banking sectors avarice can not.
I have seen first-hand evidence of the behavior of one banker in particular who would ring Noel at inappropriate times and harangue him about money , there a disgrace Joe!
Blobby Blobby Blobby!!!
The banks will use someone elses money to fight him and bury him for good. because they can.
Nice to see you, to see you nice
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