Tuesday, 6 March 2018

Former chairman of Co-operative Bank Paul Flowers banned after sex and drugs emails

The former chairman of the Co-operative Bank, Paul Flowers, has been banned from the financial services industry by the Financial Conduct Authority (FCA).

Mr Flowers was chairman of the bank at the time of its near collapse in 2013 when it revealed a £1.5bn black hole in its accounts.

The FCA found he had used his work email for sexually explicit messages, and to discuss illegal drugs.

He left amid concerns about expenses and in 2014 admitted drug possession.

Using the email provided by the Co-op for such communication was in breach of its workplace guidelines and Mr Flowers continued such usage despite having been warned not to previously.
He also used his Co-op mobile phone to call premium rate chat lines.

BBC      News.