Royal Bank of Scotland facing lawsuit over claims they tried to profit from failing businesses
THE ROYAL Bank of Scotland are facing a multi-billion pound lawsuit amid claims they secretly tried to profit from failing businesses.
Leaked documents are said to show staff were encouraged to boost their bonuses by finding firms who were already struggling, in what was called a “dash for cash”.
But instead of helping them, RBS are said to have made money by buying assets from them on the cheap.
The allegations relate to RBS’s controversial “turnaround” division, Global Restructuring Group (GRG) – during and after the 2008 financial crisis.
City watchdogs the Financial Conduct Authority... read more
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