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The NatWest Group may very well be dealing with prison proceedings as Nigel Farage is contemplating a non-public case towards them.
Reviews from Sky News say Chris Daw KC has been requested to look at if there are grounds for bringing a prison case towards the financial institution, centring across the 2023 debanking scandal, which noticed the now-Reform UK chief have his account with Coutts, a part of the NatWest Group, shut down.
On the time, Coutts mentioned the decision was taken due to commercial unviability, however the Reform UK chief maintained it was as a consequence of political views.
The debanking scandal resulted in Dame Alison Rose’s departure as chief government, with the financial institution acknowledging failings on their half, largely tied to the remedy of confidential data.
Now, as NatWest reported operating pre-tax profit of £6.2bn for final yr, information emerged Mr Farage is now taking a brand new course in his claims towards the group.
He instructed Sky Information that Grosvenor Legislation, performing for him in separate civil proceedings towards the financial institution, are instructing Mr Daw KC to discover a non-public prison prosecution. “That is unfinished enterprise,” he mentioned.
In an extra assertion, Dan Morrison, a companion at Grosvenor Legislation, mentioned: “Mr Farage is anxious about doable prison points arising out of the financial institution’s conduct. We don’t want to present additional particulars.
“Now we have due to this fact determined to instruct main prison counsel.”
NatWest got here underneath strain from the then-Conservative authorities in 2023 after Mr Farage produced proof he advised confirmed a private, slightly than industrial, resolution was behind his debanking.
NatWest’s chairman Sir Howard Davies mentioned: “This report units out various critical failings within the remedy of Mr Farage. Though Travers Smith(’s enquiry) affirm the lawful foundation for the exit resolution, the findings set out clear shortcomings in the way it was reached in addition to failures in how we communicated with him and in relation to shopper confidentiality.”
Sky additional famous that “tentative discussions” since then between the 2 events over doable settlements have “didn’t end in any monetary settlement”, with hundreds of thousands probably at stake in alleged damages.
The present authorities has been lowering its stake in NatWest and now holds under seven per cent, in accordance with a long-term plan to return to full privatisation. That’s on observe to be accomplished by summer season 2025.
Present chief government Paul Thwaite mentioned: “As we enter a brand new, forward-looking chapter for NatWest Group, I’m optimistic concerning the alternatives forward of us to develop our enterprise as a significant and trusted companion to our prospects and the UK itself and, in doing so, create additional worth for our shareholders.”
A spokesperson from the financial institution mentioned they didn’t touch upon particular person prospects.
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