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Report: Paperwork drags review into Lloyds' handling of HBOS fraud to late 2019

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Report: Paperwork drags review into Lloyds' handling of HBOS fraud to late 2019

A review into Lloyds Banking Group PLC's handling of suspected fraud at unit HBOS PLC is unlikely to be completed until late 2019 because of the sheer volume of documents involved, Reuters reported May 17, citing a source with knowledge of the inquiry.

Retired High Court Judge Linda Dobbs, who is conducting the review launched in April 2017, and lawyer Peter Carter have hired five additional lawyers to help inspect the documents, which had increased to roughly 500,000 from an initial estimate of 50,000, the source told the news agency.

Dobbs and Carter were aiming to finish the review by the end of 2018. The pair are inspecting the paperwork to establish Lloyds senior executives' knowledge about the fraud, their actions on the matter and when they performed such actions, Reuters said.