RBS Hit With £60M Bill Over Carbon Credit VAT Fraud Plot

Law360, London (October 5, 2020, 10:18 AM BST) -- A judge ordered the Royal Bank of Scotland to pay £60 million ($77.7 million) in damages, interest and legal fees after concluding that two former carbon credit traders ignored and then tried to cover up a massive value-added tax fraud scheme. 

The Royal Bank of Scotland was ordered by the British High Court on Friday to pay a total of $77.7 million for ignoring and then covering up a value-added tax fraud scheme. (AP Photo/Alastair Grant) Judge Richard Snowden's ruling, which he handed down at the High Court late on Friday, builds on his findings from March that the lender was liable for dishonestly...

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