27th Nov 2013 06:44
LONDON (Alliance News) - The Serious Fraud Office is considering a criminal investigation into allegations Royal Bank of Scotland Group PLC systematically defrauded companies by forcing them out of business, amid growing pressure on the bank over its treatment of SMEs, the Financial Times reports Wednesday citing five people familiar with the matter.
In recent weeks the SFO has conducted interviews with former executives of UK businesses affected by RBS?s Global Restructuring Group, which manages the bank?s riskier loans, the people told the FT.
The paper added that the agency is assessing whether there was any criminal activity or whether the bank was engaging in lawful, if bad, business practice. The probe is in its early stages and has not yet progressed to a full investigation, the people were quoted as saying.
http://www.ft.com/cms/s/0/ea9d30c0-537b-11e3-9250-00144feabdc0.html#axzz2lpFetMM6
By Steve McGrath; [email protected]; @SteveMcGrath1
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