Royal Bank of Scotland facing lawsuit over claims they tried to profit from failing businesses

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

 
11 October 2016 in Regional, Views: 72
Source: Daily Record
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