September 2018
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Did the inaction of a senior official at the Bank of England lose us £45bn?

For legal reasons I have to be a bit careful here. In May 2005 I sent an email to the Bank of England. A few days later, I received a reply and was informed that a senior official at the Bank would be phoning me. The reason for me contacting the Bank of England was that I had received information from a former forensic accountant who had worked with Fred Goodwin at Deloittes. This individual claimed to have documentary information about some financial shennanigans Fred Goodwin had been involved in while at Deloittes. For legal reasons, I won’t detail these shennanigans here. If any journalist wants to contact me, I can provide the necessary documentation. The key point here was that, if this forensic accountant’s information was correct, then it would have been clear back then that Mr Goodwin was not a fit and proper person to run a major bank.

Unfortunately, although I told the senior official at the Bank of England where he could get the documentation which would possibly reveal much about Mr Goodwin’s business ethics, the senior official decided to take no action. I wonder if this senior official’s decision not to act on my warning lost British taxpayers about £45bn.

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