Noel seeks £50m compensation over Lloyds fraud

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TV host Noel Edmonds has launched a claim for £50m compensation from Lloyds Banking Group for "immense economic loss" in a fraud carried out by HBOS staff.

A group of HBOS employees were jailed earlier this year for a £245m loans scam that destroyed a number of businesses.

Mr Edmonds claims his former business Unique Group - a production company with interests in radio broadcasting - was among those affected by the actions of Mark Dobson, one of the HBOS staff, who was jailed for four-and-a-half years.

Lloyds has set aside a £100m compensation pot for the fraud victims and previously said it would begin making offers to them this month.

The Deal Or No Deal star is pushing for half of that amount for the "deep distress and public humiliation" he has suffered.

"We expect half of the £100m to go to my client, and we expect Lloyds will have to increase their provision substantially," said Mr Edmonds' solicitor, Jonathan Coad, from Keystone Law.

A letter written to Lloyds boss Antonio Horta-Osorio by Mr Edmonds' lawyers read: "These individuals were fraudsters whose corrupt activities also resulted in losses to my client of tens of millions of pounds, along with his suffering deep distress and public humiliation.

"My client's reputation as a successful business entrepreneur was destroyed by humiliating media coverage of the collapse of his business empire."

Mr Edmonds said in a statement: "I am now trusting that Mr Horta-Osorio is true to his word and ensures that I am 'fairly, swiftly and appropriately' compensated for both the destruction of my businesses and the significant damage to my reputation.

"If he is not, then I will pursue my claim against Lloyds via the courts."

Sixty-four customers, including the TV host, are in line for compensation.

Sky News (c) Sky News 2017

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