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Lloyds pays TV presenter £5M to settle business fraud case

Lloyds Banking Group PLC has paid TV presenter Noel Edmonds about £5 million to settle a fraud case in which he lost part of his fortune following business failure, Sky News reported July 29, citing the Daily Mail.

Edmonds had at first demanded more than £60 million in compensation after the alleged fraud at HBOS PLC's Reading branch led to the wind-up of his business Unique Group, the news outlet noted. He said that the failure of his business due to the scam had caused him such distress that he tried to attempt suicide. In addition to the payout, Lloyds apologized to Edmonds for the distress caused.

Six bank employees were jailed in 2017 for running the £245 million loans scam between 2003 and 2007, leading several small businesses to fail, according to the report.