Was Greed Behind Overseas Mortgage Scandal at Royal Bank
RBS Bankers
Two Royal Bank executives are being investigated over an apparent dodgy overseas mortgage kick back scandal, the two bankers under the spot light are Alan Dawson and Simon Clark.
Mr Dawson was responsible for Spanish mortgage lending to RBS customers in north-west England and Mr Clark dealt with customers in the Midlands. The bankers would arrange mortgages for those interested in buying homes overseas. The two executives would then allegedly offer to put customers in touch with a “trusted” international property agents who would help them find a houses for sale , villas apartment or any other type of property.
The money they made was allegedly to be paid to the bankers’ wives or other friends with “property” businesses. In some cases, cash is alleged to have been paid directly. The money potentially runs into tens of thousands of Euros.
Greed? Yes,definitely. Specially in dealing money making transactions. As said,money is the root of all sins. The investigation would only be clear if all the documents regarding the property transactions and other business transactions could be recovered. But, since it is not yet done,totally agree in the statement: “Bonuses for the poor, not the rich.