North Tayside Liberal Democrats
Scott calls for RBS investigation
January 26, 2009 10:42 AM
Originally published by Scottish Liberal Democrats
Originally published by Scottish Liberal Democrats
Leader of the Liberal Democrats in Scotland Tavish Scott MSP has called
for the Royal Bank of Scotland (RBS) to be investigated by the Serious
Fraud Office to find out whether shareholders were misled over last year's £12bn rights issue.
Commenting, Mr Scott said:
"I think the banks across the UK must have known what their financial
position was much earlier than they were letting on and that particularly applies to RBS.
"At the time they were asking investors for more money to help their
financial position, was RBS giving a full picture of how strong or weak
they were as a financial institution? I genuinely don't know, but I
believe that the Serious Fraud Office should have a look at it.
"I would expect the First Minister to back any investigation which would include any potential Serious Fraud Office Investigation into what has happened.
"What we can do without, is a partisan political inquiry. That would be my fear of only having a Parliamentary Inquiry into this enormous issue.
"It is a question of whether investors were being misled and whether that constitutes fraud, that's a matter for experts."
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