Thread by @Carlier_J87

Today @TheFCA & @CityPolice have charged a person with Money Laundering. fca.org.uk/news/press-rel… This comes days after FCA made knowingly false representations to avoid investigating & charging LBG for money laundering. @True_and_FairUK @TransparencyTF @TV_PCC @AWhistleblowing

FCA were provided with a report & supporting evidence that proved LBG were guilty of money laundering by diverting monies belonging to Angel Group to an internal LBG Wash Account in 2012, concealing the monies from the company balance sheet, cashflow & not offsetting against debt

The evidence proves the diversion of funds was in breach of LBG own rules, UK Law and AML rules. The evidence further proves that LBG knew the monies should have been credited to the Business Account of Angel Group (AG) & further proves that LBG & @HSFlegal have lied to deny this

Indeed, evidence includes an email from the BSU manager in May 2012 apologising that the monies (Over £500,000) havn't been credited to the business account & assuring they will do so. They never do. Instead the BSU continues to unlawfully conceal these monies from AG......

As you can see from that email the BSU manager even confirms that the first £1.2mio of monies from property sales MUST be credited to the business account, and only after that could monies be credited elsewhere to repay other facilities. They never transferred a penny.

In their April 2020 letter HSF and LBG claim that AG knew that these monies were always to be diverted elsewhere to pay other facilities, and NOT to the AG Business account. This email proves these claims to be false representations. They did not realise we had this email.

In October 2012 when BSU & KPMG & David Crawshaw eventually force AGL in to administration with LBG & KPMG citing that the business was being forced into administration entirely because 'the company can no longer fulfil it's payment obligations when they fall due'.

The BSU and @KPMG in conspiracy with the Business Turnaround company cited the inability of the business to pay a £100,000 British Gas Bill as the reason. At the time they made these representations the BSU knew there was £957,000 concealed in the internal LBG wash account....

£957,000 that BSU knew was supposed to have been credited to the AG business account. Had it done so, AG would never have been forced into administration. FRAUD and Money Laundering, pure and simple. LBG & HSF produced a 'defence' the allegations in April 2020....

In June I presented a report as a protected disclosure to Adrian White and LBG, that exposed these 'defences' as not only false, but knowingly false. They appear to have produced this 'defence' assuming they knew the extent of our evidence. They were wrong in their assumptions...

This report made as a protected disclosure was also presented to the FCA. However, last week the FCA defended LBG stating "the bank, and may use funds held in an account with the bank to pay off debt if the account holder has agreed to it, or the terms of the account permits it."

The FCA, thanks to my disclosures and the evidence within, were aware that a) AG never agreed to it, b) Formal authority was required for any such diversion of any monies to a 3rd party account and on each occasion. No authority, formal or otherwise was EVER given.....

c) LBG & HSF cited terms of the March 2012 overdraft facility to justify the diversion of these monies to the LBG wash account. FALSE. This overdraft facility actually states that the monies MUST be used to repay the overdraft facility which was on the Business Account.....

The FCA has made knowingly false representations so as to protect LBG & help LBG to conceal the fraud & money laundering committed by LBG that was responsible for the administration & destruction of AG, and the false representations that LBG & HSF have made so as to deny it.....

Or does the FCA truly believe that credit of the £1.2mio to the business A/C of AG would have made no difference to its ability to pay the £100,000 British Gas bill or its other payment obligations & the diversion of the monies to a 3rd party A/C isn't fraud & money laundering?

What's more, the FCA also knows that the day before LBG & KPMG knew the £100k was due to be paid to British Gas, they knew there would be sufficient monies available in the AG business A/C to pay this bill. (Despite the bank not crediting the £1.2mio it should have done)....

HOWEVER, LBG co-ordinated with various parties for weeks beforehand to ensure they all submitted invoices. They all submitted invoices totalling £189,000, enabling LBG to pay these invoices the day before they knew British Gas were due to be paid, draining the AG business account

BUT FOR the draining of the AG business account & BUT FOR the deliberate & unlawful diversion of £1.2mio of monies to the LBG internal wash account instead of the AG business account, AG would have not only survived but thrived. Fraud & Money laundering & the FCA is complicit...

This represents a protected disclosure made in the public interest. For a disclosure to serve the public interest it must be made public. I made this disclosure to LBG and they have chosen to lie and conceal this, as have the FCA. Therefore I am making it public today.....

There are thousands of other LBG BSU victims and this case exposes not just what LBG did to Angel Group, but to countless others. The difference is, that the other victims do not have anything like the evidence that we have uncovered in this case.

@CarshaltonArt @stevemiddi1 @Ian_Fraser @jameshurley @b_c_chapman @_MODwyer @andyverity @paullewismoney @avwinter @C4Dispatches