walton v rbos

[cashins]

Oh dear indeed!!

 

Come on guys, bang some comments on the website

David

 

PS I think you just hit that one into the stands!! Shot sir.

[paulwlton]

Oh dear indeed!!

 

Come on guys, bang some comments on the website

 

David

 

PS I think you just hit that one into the stands!! Shot sir.

 

Methinks there will be lots of comments.

 

Make sure there's links everywhere guys.

 

Paul

[Michael Browne]

..

[The GodMother]

ops lets see them try and explain them selves now.

[paulwlton]

.....but didn't RBSs Lawters claim in a witness statement submitted into court that all my accounts were accurate and upto date, but confirmed earlier to my MP - "Mr Walton's accounts had been set up incorrectly".

 

I'm not a lawyer but that reeks of intentialy misleading the court.

 

Oh Dear Oh Dear!

[Goldlady]

Excellent. What are they going to do now?

[Sparkie1723]

Another fine mess Sir Fred got them into!!!!

 

 

I've put the link on my thread

 

sparkie

[elizabeth1]

Absolutely great news

 

just confirmed from the SundayTimes ....its front page, with main article on page 4.

 

Deb & Duncan

 

 

Sure looks like these people have some explaining to do!!

 

Well done everyone - great work here!!

[creditcardmug]

Excellent work here paul, cant wait for tomorrows paper.

[paulwlton]

The party's over.

 

Goodnight all.

 

Regards

Edited March 3, 2009 by paulwlton

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[cashins]

On the front page and takes up half of page 4 + 'Internet Forums' got a mention.

 

No wonder the RBS Cheif Exec wanted to see you, (before the sh*t hit the fan).

 

I would say that's a result.

 

David

[Having_A_Knightmare]

Are any of the TV news channels going to pick this up?

 

HAK

[car2403]

Are any of the TV news channels going to pick this up?

 

HAK

 

It's been covered in most of the Sunday paper reviews.

 

I saw it being mentioned early on in The Andrew Marr Show this morning, if anyone would like to iPlayer that program.

[cashins]

Be nice if Inland Revenue & Customs picked it up.

 

10 phoney accounts like this @ 100k unrecoverable balance = £1,000,000 write off for taxation purposes. Put money down it's the tip of the iceberg.

 

Wonder how many other institutions copied the RBS [problem], (If indeed it was RBS who dreamt it up to start with).

 

As RBS can't seem to explain to the press for what 'internal accounting' purposes these accounts actually serve, mabey the above should be asking the questions.

 

David

[photoman]

Could you remind us all Paul how yourself and others got hold of this info in the first place?

 

Was it in response to a standard SAR, or was it pursued through the courts or ICO ?

 

Apart from how dumb they were to carry out such practices, I can't believe how dumb they were to actually reveal it all !!

 

.... Some heads are really going to roll over this !!

[paulwlton]

Be nice if Inland Revenue & Customs picked it up.

 

10 phoney accounts like this @ 100k unrecoverable balance = £1,000,000 write off for taxation purposes. Put money down it's the tip of the iceberg.

 

Wonder how many other institutions copied the RBS [problem], (If indeed it was RBS who dreamt it up to start with).

 

As RBS can't seem to explain to the press for what 'internal accounting' purposes these accounts actually serve, mabey the above should be asking the questions.

 

David

 

Maybe HMR&C as well as shareholders.

[paulwlton]

Could you remind us all Paul how yourself and others got hold of this info in the first place?

 

Was it in response to a standard Subject Access Request, or was it pursued through the courts or Information Commissioners Office ?

 

Apart from how dumb they were to carry out such practices, I can't believe how dumb they were to actually reveal it all !!

 

.... Some heads are really going to roll over this !!

 

RBSs deceit was exposed after they responded to a standard Subject Access Request and CCA request. It is my understanding that this creative activity was widespread in the nineties.

 

 

I will be forwarding a letter to RBSs lawyers this week to seek clarification that the witness statement they submitted into court confirming that all my accounts are accurate and up to date was correct.

 

Paul

[car2403]

Be nice if Inland Revenue & Customs picked it up.

 

10 phoney accounts like this @ 100k unrecoverable balance = £1,000,000 write off for taxation purposes. Put money down it's the tip of the iceberg.

 

Wonder how many other institutions copied the RBS [problem], (If indeed it was RBS who dreamt it up to start with).

 

As RBS can't seem to explain to the press for what 'internal accounting' purposes these accounts actually serve, mabey the above should be asking the questions.

 

David

 

Yes, this is what was discussed on The AM Show - they were talking about how this type of behaviour has resulted in the credit crunch, because the likes of RBS are clearly using accounting techniques to "create" debts that the company relies on, then using those debts to chase debtors, resulting in negative equities all over the place.

[car2403]

I will be forwarding a letter to RBSs lawyers this week to seek clarification that the witness statement they submitted into court confirming that all my accounts are accurate and up to date was correct.

 

Paul

 

It may be useful to print off the articles from the ST and include those in your letter, Paul.

 

I'd love to be a fly on the wall when that particular time bomb is opened...

[Sparkie1723]

I had asked the Inland Revenue questions about these router accounts some 9 months or so ago.......they had never heard of them.......I also asked as to how an account (mine in particular could have TWO book debts),,they were not aware of either and couldn't answer the questions ...but also said they could only act if the treasury asked them to..............I had made the Prime minister aware of the facts 12 months ago and the Treasury..............Action taken ......none.

 

 

sparkie

[cashins]

Yes, this is what was discussed on The AM Show - they were talking about how this type of behaviour has resulted in the credit crunch, because the likes of RBS are clearly using accounting techniques to "create" debts that the company relies on, then using those debts to chase debtors, resulting in negative equities all over the place.

 

A debt being an asset when it comes onto the balance sheet.

 

David

[Sparkie1723]

A debt being an asset when it comes onto the balance sheet.

 

David

 

Paul and myself have been stating this fact for over 12 months.

These "book debts" would show as assetts on the RBS books ....when they did not exist.

 

sparkie

[DandD]

The way that I understand it is that an unsecured OVERDRAFT on a CURRENT account is shown as a LIABILITY on the banks balance sheet, but an unsecured LOAN account is shown as an ASSET.

 

We believe this is why our accounts were changed from 'Current' to 'Loan' accounts without our knowledge.

 

D

[andrew1]

...and with a higher asset value comes higher company value and higher share value when a company gets sold....deary me...