Noel Edmonds reaches £ 5 million deal with Lloyds

Noel Edmonds and Lloyds Banking Group have entered into a financial agreement worth £ 5 million as a result of a battle over allegations of criminal activity.

The former Deal Or No Deal presenter has received an apology from the group for the "distress" he suffered as a result of the fraud related to reading HBOS.

Edmonds, 70, sued Lloyds for losses suffered when his former company, Unique Group, was destroyed because of the fraud.

According to the Daily Mail, Edmonds would have received about 5 million pounds from the bank, although Lloyds does not disclose the financial details.

On behalf of both parties, Lloyds Banking Group stated: "Mr. Edmonds and Lloyds Banking Group reached an agreement on their dispute.

"Both parties will continue to badist with the ongoing Thames Valley Police investigation into the Unique Group and HBOS Reading cases.

"Both parties also agree to trust the independent inquiry chaired by Dame Linda Dobbs, who examines whether the issues related to HBOS Reading have been the subject of an appropriate investigation and have been properly reported competent authorities by LBG following its acquisition of HBOS in 2009. "

Corrupt financiers of the Reading branch were jailed in 2017 for the £ 245 million scam of loans, which destroyed several small businesses and saw criminals squander the profits of high-end prostitutes and vacationers luxury.

Lloyds saved HBOS at the height of the financial crisis and the Reading scandal weighed heavily on the bank.

They have set aside 100 million pounds sterling for the victims of fraud committed by HBOS Reading staff between 2003 and 2007.

Lady Linda is investigating whether the HBOS Reading fraud was the subject of an appropriate investigation and was reported to the authorities by Lloyds as a result of the acquisition of the banking group and if employees of the bank have tried to conceal or suppress information.

One of the most prominent victims is Noel's House Party star Edmonds, who has taken action against the bank, saying last year they will "pay."

He had initially claimed compensation in excess of £ 60 million.

Edmonds had previously revealed that in 2005, due to his financial situation at the hands of corrupt HBOS financiers, he was considering committing suicide.

In 2017, he told PA: "Before these criminals took me to the brink of emotional annihilation, I had always thought that those who retired by killing themselves were selfish and cowardly.

"But having been thrown into that dark, bottomless space devoid of logic and reason, I have a much deeper understanding of life without hope.

"I am not looking for any sympathy and feel no shame in admitting that on the evening of January 18, 2005, I tried to put an end to the overwhelming mental pain that had consumed my whole being.

"The fact that I have not become another statistic about suicide is solely due to the rapid response of a Devon crew of ambulances and the compbadionate support of the Bristol Priory."

As part of Edmonds' public campaign against the bank, he created a website denouncing Lloyds and its managing director, Antonio Horta-Osorio.

– Press Association