Deal Or No Deal’s Noel Edmonds demands £50 million from Lloyds bank after major fraud
The TV star lost 'tens of millions' to the con, which saw six jailed for using scam proceeds to fund yachts and sex parties while destroying firms they lent cash to
NOEL Edmonds is demanding a £50million payout from Lloyds Bank after a major fraud.
It comes after six bankers were jailed for using scam proceeds to fund yachts and sex parties while destroying firms they had lent cash to.
Lawyers for the Deal Or No Deal host have written to the bank’s chief executive, Antonio Horta-Osorio, outlining the star's demands.
Dad-of-four Noel said: “I confirm my lawyers have sent a detailed claim letter seeking compensation from Lloyds for the losses that I suffered as a result of fraud committed against me by one of its managers.”
Noel, 68, is determined to recoup his losses after the fraud saw bank employees offer inappropriate financial deals to businesses including Noel’s The Unique Group, between 2003 and 2007.
In a letter documenting his claims, he wrote: “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.
“I am now trusting that Mr Horta-Osório 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.”
The bankers jailed for fraud, top row left to right, John Cartwright, David Mills, Michael Bancroft, bottom row, left to right, Lynden Scoufield, Alison Mills and Mark Dobson, who Noel blames for his firm's bankruptcy
A court heard that scam mastermind Lynden Scourfield gave inappropriate loans to businesses which allowed his accomplice David Mills and his associates to profit from astronomical consultancy fees - while the banker was rewarded with foreign cruises and sex parties.
The scandal came as a major embarrassment to the bank and executives have since put aside a £100million fund to compensate victims — although that is likely to need increasing if Noel’s bid is successful.
Lawyer Jonathan Coad, representing Edmonds, said: “Noel has waited ten years to see justice done after his business empire was brought down by Mr Dobson’s fraud, and if the Lloyds review process does not provide the recompense due to Noel, then all the necessary ordinance, including litigation funding, is in place to start legal proceedings.”
Lloyds said the £100million compensation pot could be increased if necessary.
In a statement, the bank said: “As stated when we announced the provision, this is what is currently anticipated as compensation for the 64 customers in the review.
“If the review determines that the level of compensation due requires us to increase the provision, then we will absolutely do so.”
Lloyds did not confirm receipt of the letter.
The TV presenter is thought to be one of the 64 customer cases currently being reviewed.
Noel has built up a substantial fortune thanks to a broadcasting career spanning almost 50 years, which has seen him become one of the most recognisable faces on British television.
Hit show Deal Or No Deal was cancelled last year after an 11-year run and he has also hosted Top Of The Pops, Telly Addicts, Noel’s House Party and shows on BBC Radio 1.