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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)
10/28/201608:54:48Amended Statement of Beneficial Ownership (sc 13d/a)
10/27/201613:20:10Amended Securities Registration (foreign Private Issuer) (f-4/a)
10/27/201612:33:42Report of Foreign Issuer (6-k)
10/27/201608:00:01Report of Foreign Issuer (6-k)
10/27/201603:25:00UK Government Cuts Stake in Lloyds to About 9%; Now Recovered...
10/27/201602:59:00UK Government Cuts Stake in Lloyds to Below 9%
10/26/201608:24:55Report of Foreign Issuer (6-k)
10/26/201608:24:20Report of Foreign Issuer (6-k)
10/26/201606:54:22Report of Foreign Issuer (6-k)
10/26/201606:38:00Lloyds Profit Dives on Big PPI Charge -- 2nd Update
10/26/201604:20:00Lloyds Profit Plummets on PPI Provisions
10/26/201604:14:00Lloyds Banking Profit Plummets on PPI Provisions -- Update
10/26/201602:53:00Lloyds Banking Profit Plummets on PPI Provisions
10/18/201613:35:02Report of Foreign Issuer (6-k)
10/12/201608:52:00Lloyds Banking Group to Cut More Than 1,200 Jobs
10/11/201613:10:09Report of Foreign Issuer (6-k)
10/11/201606:55:36Report of Foreign Issuer (6-k)
10/08/201603:02:00U.K. to Sell Lloyds Shares -- WSJ
10/07/201611:30:00U.K. Government to Restart Lloyds Bank Share Sale
10/07/201610:30:00U.K. Government to Restart Sale of Its Lloyds Banking Group Stake...

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