NOEL Edmonds has warned that Lloyds Banking Group will have to pay out significantly more compensation to victims of fraud at HBOS Reading, as the TV star prepares to take his £64m battle with the lender to court.
A series of letters released by the Treasury Select Committee show the lender has paid out £75 million so far to victims, with some complainants taking home up to £5m each.
That leaves £25m for remaining members of the review, if Lloyds were to stay within its existing provisions of £100 million.
But Mr Edmonds claims Lloyds will have to pay out a much higher figure in legal claims outside of that figure.
“I believe from the meetings that I had that the scale of legal claims (outside the Lloyds review) are over £1 billion,” he told the Press Association.
He is pursuing Lloyds for £64 million in damages for losses allegedly suffered when his former business Unique Group was destroyed because of the fraud.
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