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Natwest hit with £250m lawsuit tied to Thurrock Council scandal
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NEWSDECK ANALYSIS
Thurrock Council had invested in the Rockfire Group, which was at the centre of a fraud scandal that led to its collapse. The council's investment was part of a wider trend of local authorities in the UK seeking to generate revenue through commercial investments, a practice that has come under scrutiny in recent years. This lawsuit against Natwest highlights the potential risks and consequences for financial institutions involved in such investments.
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City AM
Natwest hit with £250m lawsuit tied to Thurrock Council scandal
Natwest could be on the hook for more than a quarter of a billion pounds for allegedly aiding a businessman in secretly transferring funds from his investment firm. The FTSE 100 giant’s subsidiary – the Royal Bank of Scotland – has been engulfed in the collapse of Rockfire Group, which was triggered by a fraud [...]
1 Jul, 08:50
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