It is ’a monumental injustice’ for former directors of the RBS group to not be facing criminal charges said Unite, the trade union for RBS workers.
The Crown Office and Procurator Fiscal Service has today confirmed that formal charges will not be levelled against the bank’s former senior directors, such as Fred Goodwin, for their role in the rights issue of 2008.
Former senior directors have been accused of knowingly misleading shareholders prior to the bank’s collapse. This led to huge losses for thousands of individual shareholders, including many members of staff who were actively encouraged to buy shares. In following years many of these same workers have since suffered pension and job cuts as they have paid for the mismanagement of their former bosses.
Rob MacGregor, Unite national officer for finance, said:
“It is staggering that eight years after the near implosion of RBS no one has faced criminal charges. Today’s decision not to proceed with formal charges is a monumental injustice.
“While figures such as Fred Goodwin avoid being held to account, it is our members and the bank’s customers who have been left to deal with the fallout of their actions.
“Our members across the banks are calling for a full public inquiry into RBS and the collapse of the finance sector in 2008. Such an inquiry must include the voices of trade unions and civil society, and it must have the authority to finally bring those responsible to book.”
For more information contact: Ben Norman on
or 07525 590 075. Alternatively contact the Unite press team on 020 3371 2065.
Unite is Britain and Ireland’s largest trade union with over 1.4 million members working across all sectors of the economy. The general secretary is Len McCluskey