Business

Lloyds Bank refuses to compensate victims of alleged £160m Ponzi scheme: 'Can't consider it a scam!'

GB News 31 Aug

United Kingdom

Lloyds Bank refuses to compensate victims of alleged £160m Ponzi scheme: 'Can't consider it a scam!' — Sources: GB News

Lloyds Banking Group is refusing to compensate those who lost money in the alleged £160million Godwin Capital Ponzi scheme, maintaining that it constituted a "legitimate" investment. The banking giant informed one affected investor that it "can't consider this was a scam," despite insolvency practitioners characterising the operation as a Ponzi scheme. This is the term used to describe where funds

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