Noel Edmonds is now demanding £300m from Lloyds Banking Group over HBOS scandal

William Turvill
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Noel Edmonds is known for presenting Deal Or No Deal and Noel's House Party (Source: Channel 4)

Noel Edmonds has ramped up his compensation claim against Lloyds Banking Group to £300m.

The former Deal Or No Deal host is among a number of business owners claiming compensation over HBOS fraud.

Lloyds appointed Professor Russel Griggs to oversee an independent review of the HBOS Reading scandal in March after six people, including two bankers, were jailed. The bank set aside an initial £100m to pay out in compensation.

Edmonds, who alleges that his business Unique Group collapsed due to the actions of HBOS and its former employee Mark Dobson, initially claimed £73m.

But in making his submission to the review today, Edmonds’ solicitor, Jonathan Coad of Keystone Law, increased the amount requested to £300m. He said the amount had increased due to new information discovered while filling out the submission.

A statement from Edmonds said:

Today Jonathan Coad has submitted a 66-page document with four bundles of supporting documents, setting out a detailed analysis of all the circumstances which led to the destruction of the Unique Group by Dobson, and the devastating effect it had on Noel’s professional and personal life.

Noel Edmonds has also provided the review with a very poignant personal statement about the catastrophic impact that Dobson and HBOS had on his life, and that of his family.

Lloyds originally said it was aiming to compensate all HBOS Reading victims by the end of June. At the end of last week it revealed that five out of 67 victims have so far been compensated. A further 11 have been made offers, and 14 are currently in the final stage of assessment.

A Lloyds spokesman said:

We are determined to compensate customers appropriately, swiftly and as fairly as possible. While we cannot comment on individual cases, we have set aside £100m as a provision to cover the total expected redress cost. This remains our best estimate, but if we need to increase this amount we will absolutely do so.

If anyone has new information about the fraud at HBOS Reading, it should be passed to the police and the regulator.

Read more: Lloyds compensates just five of the 67 HBOS fraud victims

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