Ex-Chairman Ordered to Return Stolen £184k
Paul Flowers, former Co-Op Bank chairman, must repay £184,000 he stole from a vulnerable friend with Alzheimer's. Serving a three-year sentence for fraud, he risks more jail time if unpaid. Known as the 'crystal Methodist,' his financial and criminal misconduct led to a 2018 industry ban.
- Country:
- United Kingdom
In a recent court decision, Paul Flowers, the former Co-Op Bank chairman, has been mandated to return £184,000 that he fraudulently acquired from a vulnerable friend suffering from Alzheimer's.
The 75-year-old Flowers, already serving a three-year prison term for 18 counts of fraud, secured by a guilty plea, risks an additional two-and-a-half years of imprisonment if the repayment is not fulfilled in three months.
The Financial Conduct Authority barred Flowers from the financial services industry in 2018, citing his lack of integrity and referencing his criminal record and misuse of resources during his tenure.
(With inputs from agencies.)
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