Lombard Risk Management: CEO & FD lied to get takeover agreed, both fired with immediate effect - surely this is fraud?
Shareholders in Lombard Risk Management (LRM) do not care – they got a 13p cash offer from Vermeg and have banked the cash. But now the low countries acquirer is hopping mad. It has fired Lombard’s CEO and FD announced widespread redundancies and stated that the Lombard team lied about their prospects so results for the year to March 31 2018 will be way below forecast. The statement is damning and begs big questions of many. Surely the Lombard bosses stand accused of fraud? Should not the FCA and SFO have a butcher's?
- By Tom Winnifrith
- 2018-06-10 00:49:30