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HBOS scam: Foskett Panel takes swipe at former Lloyds boss António Horta-Osório | Business

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The former chief executive of Lloyds Banking Group has been accused by an independent review of creating unrealistic expectations among victims of a banking fraud.

The Foskett Panel, which is leading a “re-review” of compensation paid to victims of the HBOS Reading scam, said frustrations with the slow pace of the restitution process had been compounded by the recently knighted António Horta-Osório “promising ‘swift’ outcomes on our behalf before we had even been appointed”.

The criticism, which was included in an email sent to victims, said Horta-Osório’s pledge had “not helped” the troubled history of the response to the fraud, which had led some to “see things in a negative or cynical light”.

The scam involved bankers and business consultants who exploited lax credit policies

Click here for full article…www.thetimes.co.uk