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Lloyds Bank Ex-Security Chief Admits $3.75 Million Fraud

LONDON -- A former security chief of Lloyds Banking Group PLC (LYG) Tuesday admitted defrauding her employers of 2.4 million pounds ($3.75 million), prosecutors said. Jessica Harper pleaded guilty at Southwark Crown Court in London to taking the money from her employers using false invoices over a four-year period from 2007 to 2011 and then laundering the cash. "Jessica Harper has today been convicted of the type of crime the bank employed her to combat," said Sue Patten, head of the Crown Prosecution Service central fraud division. Harper, who was head of fraud and security for digital banking at Lloyds Banking Group, admitted one charge of fraud by abuse of position by submitting false invoices to claim payments totaling GBP2,463,750. She also admitted a single charge of laundering the money. "Harper was expected to safeguard the financial interests of the bank. Instead, she submitted false invoices totaling more than GBP2.4 million over a period of four years," Patten said. Defense lawyer Carol Hawley said Harper was selling her GBP700,000 home to repay some of the stolen cash. Harper will be sentenced at a later date.

Stock News for Lloyds Tsb (LYG)
10/09/201515:11:49Amended Statement of Beneficial Ownership (sc 13d/a)
10/09/201507:15:41Report of Foreign Issuer (6-k)
10/09/201502:59:00UK Government Cuts Lloyds Banking Stake to 10.97%
10/05/201507:56:00U.K. to Launch Retail Sale of Lloyds Shares -- 3rd Update
10/05/201506:24:00U.K. to Launch Retail Sale of Lloyds Shares -- 2nd Update
10/05/201505:10:00U.K. to Launch Retail Sale of Lloyds Shares
10/05/201504:16:00U.K. to Launch Retail Sale of Lloyds Shares -- Update
10/05/201503:21:00U.K. to Launch Retail Sale of Lloyds Shares
10/02/201507:23:31Report of Foreign Issuer (6-k)
09/30/201513:12:18Report of Foreign Issuer (6-k)
09/25/201513:27:15Amended Statement of Beneficial Ownership (sc 13d/a)
09/25/201506:35:13Report of Foreign Issuer (6-k)
09/25/201502:46:00Lloyds Banking Group: HM Government Cuts Stake to 11.98%
09/10/201510:33:04Report of Foreign Issuer (6-k)
09/02/201512:39:31Report of Foreign Issuer (6-k)
08/24/201509:25:00Amended Statement of Beneficial Ownership (sc 13d/a)
08/24/201506:07:08Report of Foreign Issuer (6-k)
08/24/201502:48:00UK Government Cuts Stake in Lloyds Banking Group to 12.97%
08/17/201511:47:49Securities Registration (section 12(b)) (8-a12b)
08/17/201510:15:16Report of Foreign Issuer (6-k)

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