November 14, 2018 / 9:21 AM / a month ago

Britain's Lloyds agrees settlement with HBOS whistleblower

LONDON, Nov 14 (Reuters) - Lloyds Banking Group said on Wednesday it had settled with an ex-employee who accused former bosses of concealing a massive fraud at its HBOS Reading unit, prior to a record-breaking cash call needed to keep the combined group afloat in 2009.

The bank apologised to Sally Masterton, a former senior manager at Lloyds, and that it had agreed to pay her financial compensation.

“I am pleased that Lloyds Banking Group has listened to me... and has recognised the distress and inconvenience this has caused me,” Masterton said in a separate statement. (Reporting By Emma Rumney, Editing by Lawrence White)

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