Leggat - ASTONISHING RANGERS CLAIMS BY LLOYDS CHAIRMAN

[ian1964 10,447]

LLOYDS BANK have claimed they had nothing to do with the controversial sale of Rangers by David Murray to conman Craig Whyte.

 

Despite the fact David Murray told Martin Bain at the time, his Murray Group were in debt to Lloyds to the tune of a staggering £700M and that Lloyds Bank had ordered him to get rid of Rangers�.FAST!

 

It is the latest twist in the increasingly bitter claims and counter claims rumpus over just what happened when Murray sold out Rangers to conman Whyte for a quid, sealing Rangersâ?? fate by sending them hurtling into the crisis which now engulfs them.

 

But Lloyds Bank have admitted they havenâ??t a clue what role their own man on the Rangers board, the shadowy Donald Muir, played in the deal which has taken Rangers to the brink of oblivion.

 

That startling admission came from the man at the very top of the Lloyds Banking Group, Sir Winfried Bischoff and was all the more astonishing given the fact that Lloyds remain Rangersâ?? bankers.

 

However, he has been forced to promise he will launch a full scale internal probe to attempt to uncover just what role Muir, who was acting as a consultant for Lloyds, representing their interests on the Rangersâ?? board, played in the fiasco.

 

And that he will provide answers.

 

Bischoff made the pledge at a stormy Lloyds Banking Group Annual General Meeting held in Edinburgh, during which Lloyds were under attack for the way it handled the Rangersâ?? account and the sale of the club by Murray to trickster Whyte, leading to the Ibrox club now having to fight for its very existence.

 

Four times the Lloyds Bank chairman was grilled as to what role his Bank and those employed by Lloyds, played in the debacle.

 

And the under pressure Bischoff was forced to admit Lloyds Bank knew nothing about Craig Whyteâ??s dodgy past.

 

Bischoff admitted Lloyds did not investigate Whyte and had no idea where the money he was going to pay off Rangersâ?? £18M debt to Lloyds was coming from,and that Lloyds hadn't a clue that trickster Whyte had been banned for serving as a director for seven years.

 

Bischoff also insisted that another controversial behind-the-scenes senior figure at Lloyds at the time, Manus Joseph Fullerton, a founding director of the Celtic Trust, had nothing to do with the Rangers account, despite the fact east end of Glasgow born Fullerton claimed quite clearly on BBC Scotlandâ??s website that he was responsible for ALL business banking in Scotland.

 

Bischoff insisted that was not the case and the now retired Manus Joseph Fullerton only controlled companies which had a turnover of up to £5M.

 

It is curious Lloyds have never made this claim before, as they have long been aware of Manus Joseph Fullerton being mentioned in LeggoLand. A simple statement when his name originally surfaced here in the autumn of 2010 would have cleared up the whole matter.

 

But Lloyds Bank refused to do that. They stayed silent on Manus Joseph Fullertonâ??s role in the whole murky affair until chairman Sir Winfried Bischoff was forced to comment when quizzed at the Lloyds Banking Groupâ??s Annual General Meeting.

 

At the at times stormy three and a half hour AGM, chairman Sir Winfried Bischoff insisted Lloyds Bank had no influence whatsoever on David Murrayâ??s decision to sell Rangers to Craig Whyte.

 

He revealed Lloyds did not do due diligence on conman Whyte and had no knowledge of his dodgy past and that Lloyds were not interested in knowing where Whyte got the £18M he used to pay off the Rangersâ?? debt to the Bank.

 

Sir Winfried Bischoff also admitted he had no idea what role Lloyds Bankâ??s representative on the Rangers board, Donald Muir, played in the sale of Rangers to huckster Whyte.

 

And that Manus Joseph Fullerton, a founding director of the Celtic Trust, who claimed he was responsible for ALL business banking in Scotland, was not involved in any banking affairs of one of Lloyds most high profile customers, Rangers.

 

The bottom line being, Lloyds had no idea what their man on the Rangers board, Donald Muir, was up to and that Lloyds appeared to be happy enough to hand over the ownership of a high profile business in Scotland, one which their bank in the guise of the Bank of Scotland, the Halifax Bank of Scotland and the Lloyds Banking Group, had been involved with for a quarter of a century, without bothering to investigate the buyer or show any interest in where Craig Whyteâ??s money to clear the £18M to Lloyds, was coming from.

 

Given that Whyte has no visible means of support, no visible means of legal income, that is an astonishing admission for the chairman of Lloyds Bank, which British taxpayers have a 43per cent stake in, to make.

 

And it surely makes one wonder just how easy drug dealers, human traffickers and other branches of organised crime, must find it to launder their dirty money through the Lloyds Banking Group?

 

Perhaps that is a matter some Westminster MPs might like to take up with the Treasury.

[Jim1955 12]

Interesting, presumably what is being claimed here can be verified from other sources?,

[Bluedell 5,354]

Bischoff also insisted that another controversial behind-the-scenes senior figure at Lloyds at the time, Manus Joseph Fullerton, a founding director of the Celtic Trust, had nothing to do with the Rangers account, despite the fact east end of Glasgow born Fullerton claimed quite clearly on BBC Scotland’s website that he was responsible for ALL business banking in Scotland.

 

Bischoff insisted that was not the case and the now retired Manus Joseph Fullerton only controlled companies which had a turnover of up to £5M.

 

Wrang again, Davie

 

It is curious Lloyds have never made this claim before, as they have long been aware of Manus Joseph Fullerton being mentioned in LeggoLand. A simple statement when his name originally surfaced here in the autumn of 2010 would have cleared up the whole matter.

 

But Lloyds Bank refused to do that. They stayed silent on Manus Joseph Fullerton’s role in the whole murky affair until chairman Sir Winfried Bischoff was forced to comment when quizzed at the Lloyds Banking Group’s Annual General Meeting.

 

Why is curious that a huge bank didn't see fit to point out that a blogger was incorrect? Should a bank respond to every blog on the internet?

[craig 5,199]

He revealed Lloyds did not do due diligence on conman Whyte and had no knowledge of his dodgy past and that Lloyds were not interested in knowing where Whyte got the £18M he used to pay off the Rangers’ debt to the Bank.

 

If this statement is true then Lloyds could be in the shit here.

 

Does the UK not have KYC/AML (Know Your Customer/Anti Money Laundering) rules in place ? If the funds paif by Whyte went into RFC's Lloyds bank accounts then Lloyds have a duty to obtain comfort that they are not illegally gotten funds.

 

So they could be in the shit for this statement.

 

That said, most of what Leggo says these days is drivel, so I take it all with a very large pinch of salt.

[ian1964 10,447]

He revealed Lloyds did not do due diligence on conman Whyte and had no knowledge of his dodgy past and that Lloyds were not interested in knowing where Whyte got the £18M he used to pay off the Rangers’ debt to the Bank.

 

If this statement is true then Lloyds could be in the shit here.

 

Does the UK not have KYC/AML (Know Your Customer/Anti Money Laundering) rules in place ? If the funds paif by Whyte went into RFC's Lloyds bank accounts then Lloyds have a duty to obtain comfort that they are not illegally gotten funds.

 

So they could be in the shit for this statement.

 

That said, most of what Leggo says these days is drivel, so I take it all with a very large pinch of salt.

 

I don't if that's true and I don't know if it's the same thing but I just recently bought a new house and had to put down a wad of cash and I had to prove where I got the cash from with paper work.

[Guest Corkie]

I won't pretend to know the ins and outs of various business aspects but can someone tell us just what's the story with the 18M debt that CW allegedly paid Lloyds Bank when he took over - AFAIK that was part of the 24?M he raised from Ticketus that CW is now being sued for. If 18M was spent by him to clear a debt owed by Rangers just how exactly are we going to get that back?

[Bluedell 5,354]

I won't pretend to know the ins and outs of various business aspects but can someone tell us just what's the story with the 18M debt that CW allegedly paid Lloyds Bank when he took over - AFAIK that was part of the 24?M he raised from Ticketus that CW is now being sued for. If 18M was spent by him to clear a debt owed by Rangers just how exactly are we going to get that back?

 

We aren't getting back the £18m. The cash was paid to Lloyds and cleared the debt due to them Ticketus are owed their cash and will need to settle for pence in the pund and write off the rest, less whatever they get from Whyte (good luck with that).

 

Not sure if that answers your question?

[RANGERRAB 3,299]

whether we like it or not Whyte got his money legitimately from Ticketus which he then lodged with his then solicitors Collyer Bristow.

Lloyds would probably argue they'd no reason to suspect anything untoward as this money had come from a respected law firm.

 

No, the question I want answered is why were Lloyds so keen to force SDM to sell Rangers ? Rangers only made up around 3% of the MIH debt so it couldn't have been that. As Leggat has always pointed out,the two characters running Lloyds business banking in Scotland at that time were an Archibald Gerald Kane & our old chum Manus Joseph Fullarton( he of the Celtic trust). Did their Shellik allegiances come out in this ? it certainly looks very like it to me.

Of course these two have since departed lloyds but would it be possible for these two to be brought to task & explain ?

I, for one, would like to see that.