MORE THAN 500 of the richest people in Britain are planning legal action against Royal Bank of Scotland (RBS) for losses of more than £200m from investments through Coutts, the Queen’s bankers, which it bought in 2000.
From the Sunday Times:
MORE THAN 500 of the richest people in Britain are planning legal action against Royal Bank of Scotland (RBS) for losses of more than £200m from investments through Coutts, the Queen’s bankers, which it bought in 2000.
The claimants include five members of the House of Lords and up to 10 chief executives and finance directors of FTSE 100 companies.
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The action is being master-minded by Sir Keith Mills, the entrepreneur who helped to run London’s successful bid for the 2012 Olympic Games and who says he has lost as much as £30m in interest.
It threatens to tarnish the image and credibility of private banks which often vet potential customers for their cash and assets and then supposedly cosset them with better financial advice than that available in the high street.
To read the full story, visit timesonline.co.uk
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