Halifax has announced that victims of fraudster Graham Price will be reimbursed with interest. In a change of policy, the provider has said that all 84 investors would be paid back the full amount of what they had lost, regardless of whether they were Halifax customers.
Graham Price, a Swansea-based financial adviser and Halifax agent, siphoned off £7 million from the bank and £3 million from private clients who he conned into investing money with him.
He used the money to fund a gambling habit and buy expensive cars and holidays for himself and his family.
Mr Price left an IOU for £7 million in a vault at the branch where he worked and was later jailed for 12 years earlier this year, after pleading guilty to 43 separate offences of theft and deception, with a further 263 offences taken into account!
Originally, Halifax were to only reimburse money that were not passed to their accounts, but in a change of heart, the provider has now agreed to settle with all involved, including Mr Price's investment scheme, to end the confusion and instability caused.
Our view
Well done Halifax!