The court heard how a bank boss was bribed with high-end escorts as reward for part in $310m loan scam. Lyden Scourfield enjoyed sex parties and luxury holidays as kickbacks for his role in a $1.25 billion [£1billion] fraud was jailed Thursday, along with five associates.
Senior HBOS bank staff, Lynden Scourfield, 54, forced struggling clients to use financing from a firm owed by one of his benefactor, Mills.
Adult film actress Suzie Best who describes herself as ‘bisexual’ with a ‘high sex drive’ was a favourite at the sex and viagra fueled soirees the fraudsters enjoyed staging
In return he was treated to hookers and X-rated bashes with girls including porn star Suzie Best. Suzie described Scourfield as a “Danny DeVito lookalike, short and bald”, who she allegedly, said with great delight: “suffered from premature ejaculation”.
Suzie, 31, romped with fellow escorts at a string of X-rated bashes for the fraudsters which involved wads of cash and stashes of Viagra.
Scourfield has been jailed for 11 years and three months along with five associates for a $1.25billion loan scam.
Members of the cast; featuring [L-R] Lynden Scourfield, David Mills and Michael Barcroft
Scourfield allegedly targeted 200 failing businesses, and forced them to use a consultancy company run by his pal David Mills, 60, who has been convicted and jailed for 15 years.
Scourfield did so in exchange for “sex, for luxury trips … for bling and for swag”, a judge said, in funnelling high-risk loans of $310 million the fraudsters knew would never be repaid.
In return Mills rewarded Scourfield and his colleagues with luxury holidays and the services of several high-class escorts.
One of their favourites was Suzie best, 31, a $375 [£300]-an-hour escort from Barnsley, South Yorks, who describes herself as “bisexual” with a “high sex drive”.
told the court that she met up regularly with Scourfield and his friends, who she dubbed “the posh tw*t bankers”,in a rented West London apartment.
Suzie, whose services include spanking and humiliation, testified that she performed girl-on-girl shows for them and also performed sex acts on some of the men.
Days in the sun: Alleged fraudsters Bancroft with Mills and Scourfield on vacation in Barbados
Alison Mills will serve 3-and-half years for conspiracy to conceal criminal property
Convicted: Textile expert John cartwright and Michael Bancroft were also convicted ror their role in the scam
In her evidence Suzie, who features on porn websites, said that Scourfield had a hairy back and suffered from premature ejaculation.
In December 2005 Scourfield was among a group who went for a meal with three escorts at the Royal China restaurant on central London’s Baker Street.
One of the prostitutes who kept a diary wrote: “Then drinks at flat and quick s**g. Easy £1,500. Home late and drunk.”
Easy money: Escort and adult film actress Suzi said she did girl-on-girl shows for fraudsters and also performed sex acts on some of the men
Mills also treated Scourfield to business-class trips to Bangkok, Moscow and Barbados, a six-star, all-inclusive Med cruise and the use of an Amex credit card.
A £2million, 100ft yacht called Powder Monkey was also purchased, along with properties around the world.
Prosecutor Brian O’Neill in his closing speech more than four months into the trial told the trial at Southwark Corn Court the bankers caused HBOS to lose $310 million.
Mr O’Neill said: “Their motivation was greed.
“This took the form of money transfers, cash, expensive gifts, use of an American Express card for personal spending, unauthorised and inappropriately lavish hospitality, luxurious foreign travel and sexual encounters with high class escorts.”
Lynden Scourfield pleaded guilty in 2016 to offences related to the fraud
No game: porn star Suzie Best, said that’ Danny Devito look alike’ Scourfield, had a hairy back and suffered from premature ejaculation
Mark Dobson was found guilty of conspiracy to corrupt and conspiracy to conceal criminal property, was handed a 4-and-half-year prison sentence
Michael Bancroft convicted for his part inthe multi-million loan scam between 2003 and 2007 will spend a decade in jail
John Cartwright was convicted of fraudulent trading and conspiracy to conceal criminal property sill serve three and half years behind bars
HBOS scam victims call for bank reimbursement
Chicken farmer Justin Riggs, saw his $470,000 loan balloon to $483,000 after three years, despite having paid thousands in fees and charges.
JRiggs, 56, of Stanford in the Vale, Oxfordshire, said: “I almost went bankrupt. I’d ordered 3,000 more chickens, but couldn’t afford the feed. I had to cancel the order and slaughter the 12,000 birds I had.
“No one wants to sell land but under pressure I had to. It annihilated my business.”
Nikki and Paul Turner started a record label, but ran up massive debts after falling for the fraud.
The couple, from Peterborough, wanted to borrow £200,000 for their start-up, but Scourfield lent them more than $1.06million
As they struggled under the debt, they were advised to use David Mills’ firm to help “turn around” the business.
Instead they paid $81,500 in fees while being handed poor advice, meaning the company’s debt eventually thit a staggering $1.25million.
Nikki, 46, called for the bank to compensate them. She said: “What happened at HBOS Reading was fraud on an industrial scale and its perpetrators caused immense distress to us and many others. “It feels like we have been serving a prison sentence for the last 13 years now they’ll know how we feel.”
Bristol-based engineering company Bradman Lake Group footed the bill for some of Scourfield’s trips and ended up going bust owing HBOS $45.1million. Tie manufacturer tie-maker Theros almost $26.3million.
Another company, Clode, was left with debts of more than $25.6million and
Porn mag publishers Remnant, who supplied girls for the banker’s parties, were left owing $20.4million.
Meanwhile, Mills’ firm Quayside Corporate Services was hammering their targeted businesses with hefty fees and expenses, forcing many to go bust.
HBOS, which left British taxpayers with almost $26billion bill during the 2008 credit crunch,eventually wrote off debts estimated at $310 million [£245million].
However, sources close to the investigation say the total value of the fraud could be close to $1.25billion. The scandal came to light during a six-year probe believed to be the most complex in Thames Valley Police’s history.
Courtesy: JONATHAN REILLY
Kingpin – David Mills and his wife Alison arriving at court
It was revealed that Scourfield had pleaded guilty to one count of conspiracy to corrupt, one count of money laundering and four counts of fraudulent trading on August 12 last year.
Scourfield, of Greenford, West London, has been on remand in prison ever since while Mills, his wife.
Alison Mills, 51, fellow consultant Michael Bancroft, 73, and HBOS banker Mark Dobson, 56, went on trial.
They were convicted after a four-and-a-half month trial at London’s Southwark crown court.
They were found guilty of offences including conspiracy to corrupt, fraudulent trading and conspiracy to conceal criminal property.
Accountant John Cartwright, 72, was found guilty of conspiracy to conceal criminal property but Jonathan Cohen, 57, was cleared of involvement in the conspiracy.