Thread by @Carlier_J87

Disturbing early signs that Robin Budenberg will seek to continue concealment and the furtherance of false representations made by LBG and @HSFlegal in respect to BSU. Out with the old, in with the new. Nothing changes. @APPGbanking @TV_PCC @andyverity @jameshurley @_MODwyer

Should we be surprised? Mr Budenberg was "heavily involved in the recruitment of António Horta-Osório to the top job at Lloyds in 2011" according to an article by @KGriffithsTimes . The SFO and Dame Linda Dobbs are about to shed further light on Mr Horta Osorio's tenure....

That light will not be positively illuminating. It will cast a significant shadow over those that advocated for his appointment, including the new LBG Chairman. A business takes it lead from the top down. Dishonesty and concealment travel downhill very quickly.....

Mr Budenberg has a chance to restore faith in LBG, but only by way of acknowledging and addressing the legacy issues that continue to plague the bank. The 'legacy' issues that Horta Osorio, Columbas, La Hood, White et al have all sought to conceal for so long......

Even when the bank admitted to lying for years about HBOS Reading, what they knew, when they knew it, that the Turnbull report was official and was substantiated, and that they had destroyed whistleblower Sally Masterson, nobody has been held accountable.....

The stock price of LBG and the bank's reputation will continue to suffer until the bank comes clean, acknowledges the wrongdoing and criminality of BSU and other departments, and provides proper compensation for victims. It would be painful for the bank, but short and sharp...

Markets and the public react positively over time to honesty, and the removal of uncertainty. Look at the share prices of banks immediately following their receipt of multi billion dollar fines. Generally positive because uncertainty removed, and bank can move on and forward.....

This week a response was produced on behalf of Mr Budenberg, that refers to a letter sent by @HSFlegal in April 2020, and presents this as an emphatic position for the bank. Whereas, we produced and presented evidence to expose numerous false representations within that letter...

And evidence to prove fraud, conspiracy to defraud and money laundering by Lloyds Bank BSU. To be clear, HSF and LBG in that April 2020 letter made statements that were false and that they knew to be false, and have been exposed as such by evidence, NOT opinion.....

LBG and HSF made the mistake of assuming that the evidence provided within my protected disclosures to them, and to which HSF were responding in April 20202 were the sum total of that which I had discovered during my investigation. It was not.....

Experience with LBG and UBS (where Mr Budenberg also worked) taught me never to disclose all of the evidence you have. If you do the bank will simply fit a story and narrative around it. Better to make the bank believe you have enclosed all of your evidence with your disclosure..

But hold back key pieces & expose any defence & position that the bank is forced to put forward as a statement of truth and fact, for the false representations and fraud that they are. Once bank has committed to a position, they can't backtrack from it once exposed as false...

However, Mr Budenberg is seeking to ignore the significant evidence that exposed dishonesty and fraud within that HSF letter, and instead refer to and rely upon it as fact. Perhaps this has something to do with the fact that this HSF letter also found its way to the SFO....

Clearly the position that Lloyds is trying to front up to the SFO as if Gospel, and as if designed to give the SFO a means to avoid prosecution. Despite knowing that its contents are false, and despite claiming to @_MODwyer that they had no knowledge of an SFO review of the case.

This evidence will eventually be in the public domain, either as a result of criminal prosecution, Dame Linda Dobbs report or a documentary. Either way, the evidence is clear and irrefutable and will shock the public when they see it. It shocked me, and I thought I'd seen it all!

During my time at Lloyds Horta Osorio would roll out a speech after each regulatory finding against the bank. We would all have to listen to it broadcast across the trading floor. 'legacy issue...blah blah blah legacy issue...ya da ya da ya da...legacy issue...blah blah blah..."

It is not a 'legacy issue' when you choose to ignore the evidence that you have in your possession and instead choose to lie, deny and conceal. The moment you do that it is YOUR issue, not a legacy or historic issue. YOU chose to lie about it, YOU chose to conceal it.....

Mr Budenberg appears to be keen to pursue the same strategy as Mr Horta Osorio before him; Lie, deny, ignore and conceal. Shall we run a sweepstake as to the date on which Mr Budenberg first uses the term 'legacy (or historic) issue'?