8. HBOS’ Frauds
Loss:£350 million
Year: 2017
HBOS belongs to Lloyds Banking Group, and apparently, even when they purchased it in 2008, the frauds had already been organized. Telegraph tells us people responsible are about to serve their sentences for approving loans that should have been declined. They are guilty of defrauding, bribery and money laundering. Lloyds lost £250 million in the process and is obliged to pay additional £100 million to the victims whose businesses suffered or completely failed.
Nonwarit/Shutterstock.com
