Fred the Shred’s £400k legal bills paid by you

Taxpayer-funded RBS is paying former CEO Fred Goodwin’s legal bills, so far amounting to £400,000.

Law firms are representing four former bosses at the bank, with costs likely to come to millions of pounds by the time it reaches court.

This is all despite the fact Goodwin draws a £342,500-a-year pension.

It’s normal for companies to foot the bill for legal costs of former directors, however the bank is 82% owned by taxpayers.

Labour MP John Mann said: “This is a disgrace. It’s a staggering amount of money and will only climb higher. It shouldn’t be happening, especially when the taxpayer owns this bank.”

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Readers' comments (1)

  • All these complaints but non and no actions can be undertaken!!! Useless...

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