Cooperative Bank News Update: Independent Enquiry To Take Place Into Events at the Bank
Cooperative Bank News Update: Independent inquiry to take place into events at the bank going back to 2008, after the investigation into Paul Flowers.
There is going to be an independent inquiry to look into “events at the Co-op Bank” dating back to the year 2008, The Chancellor has said.
Paul Flowers, the bank’s ex-chairman has now been released on bail following his arrest on Merseyside for questioning in relation to an operation to supply drugs. Mr Flowers who is also a Methodist minister has since been suspended from the Labour Party and the church. The Co-op Party chairman that is paired with Labour said the damage to the Co-op movement was not at all good. In fact Mr Flowers resigned as a Councillor for Labour in Bradford back in 2011 after he had been judged guilty of having legal but inappropriate material on his computer. At the time Mr Flowers said that he was leaving due to stress and the pressure of work.
Cooperative Bank News Update
Bradford Council are now conducting further investigations into Mr Flower’s departure. The Labour MP Mr Gareth Thomas who since the year 2000 has been the chairman of the Cooperative Party has made it clear that he had been totally unaware of the events. He said that he had not known what happened in Bradford or of any of the other disclosures about Mr Flowers that have been revealed since.
Mr Thomas went on to say that despite the fallout from the near disaster of the Cooperative Bank, and surrounding the events that affected Mr Flowers, the cooperative movement was he insisted as a wider entity doing well despite the fallout from the Co-op Bank’s near downfall and the recently revealed series of scandals surrounding the bank’s former chairman.
On the 17th of November the Mail on Sunday newspaper published a video that allegedly showed the sixty three year old Mr Flowers paying out three hundred pounds for some cocaine while at the same time he was allegedly discussing the purchase of some other illegal drugs also. Mr Flowers had resigned from the position of deputy chairman of the Cooperative group in the summer when questions about his expenses were raised at that time.
The Co-op Group will now look into whether there was any inappropriate behaviour while Mr Flowers was with the Cooperative Bank or while he was working for the Co-op Group in any capacity in the past.
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