Bank is criticised over £40,000 loan to delusional man

[emad]

August 11, 2005

Bank is criticised over £40,000 loan to delusional man
By Tosin Sulaiman


A LEADING high street bank has been criticised for allowing a mentally ill man who thought he was a millionaire to borrow nearly £40,000.

Lloyds TSB failed to carry out proper checks on the 39-year-old man, who suffers from bipolar disorder and cannot be named, according to the Citizens Advice Bureau, which investigated the case.

The man, from Burton upon Trent, Staffordshire, built up a £70,000 debt by travelling the country and handing out cash to strangers.

He was allowed a series of loans over the past two years totalling nearly £40,000 by Lloyds TSB. The rest of his debt was built up using credit cards taken out with several banks.

http://www.timesonline.co.uk/newspaper/0,,173-1730296,00.html

[Wickerman]

1. This guy sounds familiar, not insane

[emad]

2. Good headline for Poodle's shambolic £3.6million mortgage?

Latest story I saw said the Blairs' house in Connaught square had dropped to £2.95million since they bought it last year.....

[RaleighNCDUer]

3. Well, that's nothing.

I know of a delusional person who borrowed billions and flew around the world handing out money to international corporations.

Though admittedly, most came to him at his pig farm in Texas.

[Pert_UK]

4. Look, I NEEDED that money, OK?

:evilgrin:

Reminds me of this eejut:

"A teenage thief was so shocked by the size of a £47,000 haul from a housebreaking that he gave cash away to strangers, a court has heard.

David Gray, 19, and his older brother Paul, 20, were part of a gang which broke into a house in Peffermill Road, Edinburgh, on 7 March last year.

They stole a safe which contained family savings and split the cash.

Gray, who was sentenced to 31 months in a young offenders' institution, handed money to people in the street.

He said he handed out notes to people in the street because he did not know what to do with it...

Gray's solicitor Kenneth Cloggie told the court: "When the safe was taken out and the money discovered it is clear he did not fully understand the value of the money which was there.

"He could not cope with the situation as he told the police officers. He gave money away to people he would meet in the street in the Craigmillar area. People he did not know. "

http://news.bbc.co.uk/1/hi/scotland/4725143.stm

P.

[philarq]

5. Uh--is this new or news?

I guess the part about travelling and giving it all away, but don't banks sort of wink and hand it out all the time to "delusional" characters...

I mean I have a place in my heart for Richard Branson, and lord, but if they had to stop handing out if you were delusional----