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  1. #1
    Yogosan Yogosan is offline

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    HSBC Whistleblower Says Bank Defrauded UK Shoppers of £1Billion

    Nicholas Wilson who was head of debt recovery at Weightmans on behalf of HSBC has alleged that the bank is responsible for defrauding at least £1Billion from British high street customers.
    Nafeez Ahmed - Death, drugs, and HSBC
    According to whistleblower Nicholas Wilson, HSBC has been integrally involved in a fraudulent scheme to illegally overcharge British shoppers in arrears for debt on store cards at leading British high-street retailers. Without knowing, hundreds of thousands of Britons have been defrauded of a total of one billion pounds worth of money, reveals Wilson, a former debt recovery specialist who uncovered the crimes.
    Nicholas says his life has been ruined since blowing the whistle and says corruption is rampant to the very core of British financial services. When asked about the path of becoming a whistleblower in the financial sector, Nicholas proclaims, "Don't do it, it's too corrupt". This is the first time his side of the story has been touched on by a major broadcaster.


    HSBC also operated debt recovery business for store cards at B&Q, Dixons, Currys, PC World, Furniture Village and more, so if the revelations about supermarket chain Waitrose are true, the £1Billion may only be scratching the surface.

    The story so far not been touched by the mainsteam media. Nicholas, MEDIA LENS and Nafeez Ahmed attribute this to the fact that the corporate media receive massive advertising revenue from HSBC (and other financial institutions), including the Telegraph, Sunday Times and most of all, the Guardian-
    Nicholas Wilson - Don’t blow the whistle.
    The famous whistleblowers like Snowden and Assange are protected by a phalanx of journalists and therefore lawyers. In my case the media ignore me, probably for fear of losing advertsing revenue (HSBC spends £400m a year). The fraud has been covered up by the Solicitors Regulation Authority, the Law Society, the Ministry of Justice, the Financial Services Authority, the Financial Conduct Authority, the Legal Services Board, the Office of Fair Trading, the City of London Police, and ignored by many MPs and Lords.

    There are more than 100 pages of evidence on this site proving fraud on an industrial scale; but if all the regulatory authorities behave like that you have no hope of justice and will lose everything, as I have discovered. So, regrettably, and despite all the support one may get on social media or from other whistleblowers, my advice to anyone considering blowing the whistle on financial wrongdoing is don’t, it’s slow suicide. Find another job, move away from it and enjoy your only life.
    MEDIA LENS - ‘A Conspiracy Of Silence’ – HSBC, The Guardian And The Defrauded British Public
    Ahmed writes that the 'most disturbing' aspect of 'HSBC's fraud against British consumers' is that it 'has been systematically ignored by the entire British press'.

    He adds:
    'In some cases, purportedly brave investigative journalism outfits have spent months investigating the story, preparing multiple drafts, before inexplicably spiking publication without reason.'
    Examples include BBC Panorama, BBC Newsnight, BBC Moneybox, BBC Radio 5 Live, the Guardian, Private Eye and the Sunday Times.

    The Sunday Times is the most recent example. A couple of weeks ago, the paper had a big exposé on the HSBC consumer credit fraud ready to go. But it was 'inexplicably dropped' at the last minute. Ahmed writes:
    'HSBC happens to be the main sponsor of a series of Sunday Times league tables published for FastTrack 100 Ltd., a "networking events company." The bank is the "title sponsor" of The Sunday Times HSBC Top Track 100, has been "title sponsor of The Sunday Times HSBC International Track 200 for all 6 years" and was previously "title sponsor of The Sunday Times Top Track 250 for 7 years."'
    The FCA(Financial Conduct Authority) has been found to be compicit in covering up the fraud, so it would appear that apart from a handful of dissenting voices, financial institutions in Britain have the entire system rigged in their favour. Whistleblowers have no voice, politicians are afraid to act, the media is bought and payed for and regulators are unable/unwilling to do their jobs, painting a picture of absolute untouchability for 'too big to fail' banks in Britains financial sector. A destructive recipe as we know too well.
    Last edited by Yogosan; 7th March 2015 at 02:14 PM.
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  2. #2
    Yogosan Yogosan is offline

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    Here is some sound advice from an employee of HFC (previously household international), the company HSBC acquired to oversee the operations.
    Household International Quote of the Year 2004
    —— “The consumers with their complaints are the pieces of s**t that do not know how to manage money. Get an education and use it. Stop buying things and using credit cards. Invest in some real estate and drive a crappy car through your pitiful lives. At least you will retire thinking you accomplished something.” ——

    The statement was made in the forums under the category “Why Not Just Pay Your Bill On Time” which in itself is amazing since Household and HSBC intentionally credited payments late for almost 10 years. Of course they neither admit nor deny it, but paid $11 million to settle allegations.
    HSBC's acquisition of HFC was questionable at best. The company was charged with predatory lending of which it denied all charges, yet paid out half a billion to it's cutomers.
    Last edited by Yogosan; 7th March 2015 at 02:57 PM.
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  3. #3
    Watcher2 Watcher2 is offline

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    Whistleblowing is a fools game. It pains me to say it but it's true.
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  4. #4
    toxic avenger toxic avenger is offline
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    Quote Originally Posted by Watcher2 View Post
    Whistleblowing is a fools game. It pains me to say it but it's true.
    Yep - it's bad for your health. It never ends well for those who do it. Best to keep schtum.
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  5. #5
    RasherHash RasherHash is offline
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    Quote Originally Posted by Yogosan View Post
    Nicholas Wilson who was head of debt recovery at Weightmans on behalf of HSBC has alleged that the bank is responsible for defrauding at least £1Billion from British high street customers.


    Nicholas says his life has been ruined since blowing the whistle and says corruption is rampant to the very core of British financial services. When asked about the path of becoming a whistleblower in the financial sector, Nicholas proclaims, "Don't do it, it's too corrupt". This is the first time his side of the story has been touched on by a major broadcaster.


    HSBC also operated debt recovery business for store cards at B&Q, Dixons, Currys, PC World, Furniture Village and more, so if the revelations about supermarket chain Waitrose are true, the £1Billion may only be scratching the surface.

    The story so far not been touched by the mainsteam media. Nicholas, MEDIA LENS and Nafeez Ahmed attribute this to the fact that the corporate media receive massive advertising revenue from HSBC (and other financial institutions), including the Telegraph, Sunday Times and most of all, the Guardian-



    The FCA(Financial Conduct Authority) has been found to be compicit in covering up the fraud, so it would appear that apart from a handful of dissenting voices, financial institutions in Britain have the entire system rigged in their favour. Whistleblowers have no voice, politicians are afraid to act, the media is bought and payed for and regulators are unable/unwilling to do their jobs, painting a picture of absolute untouchability for 'too big to fail' banks in Britains financial sector. A destructive recipe as we know too well.
    Tut-tut, you know nothing, banks dont "defraud", they reevaluate the capitalised variable asset regime

    Only dole spongers defraud!
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  6. #6
    Analyzer Analyzer is offline
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    I reckon if somebody went back through the books of the various political parties - including one in particular - it would become evident that British banks have been defrauding more than just shoppers.....

    The rise of Ponzi-economics as a means to deliver economic growth being a particular result of business determining political outcomes via media influence.

    There is another thread about the Torygraph, HSBC, and advertising expenditure.
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  7. #7
    niall78 niall78 is offline

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    Quote Originally Posted by Analyzer View Post
    I reckon if somebody went back through the books of the various political parties - including one in particular - it would become evident that British banks have been defrauding more than just shoppers.....

    The rise of Ponzi-economics as a means to deliver economic growth being a particular result of business determining political outcomes via media influence.

    There is another thread about the Torygraph, HSBC, and advertising expenditure.
    We are now in the end-stage of corporatism where those fleecing the public are so brazen they barely try to hide their actions any more so unafraid are they of any real sanctions.
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  8. #8
    Analyzer Analyzer is offline
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    Quote Originally Posted by niall78 View Post
    We are now in the end-stage of corporatism where those fleecing the public are so brazen they barely try to hide their actions any more so unafraid are they of any real sanctions.
    Well, of course they don't care.

    If they do something wrong, they can always rely on the media to concentrate on other stuff, and ignore what is going on. Especially the English language financial press who always advocate whatever policy is in the interests of the richest 1% in society.
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  9. #9
    Prester Jim Prester Jim is offline
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    When they do catch someone red-handed they usually let them off if they are defrauding the company and throw the book at them if they are at a lower level and are stealing.
    Just talking to the sister in law there and she was saying that her employers (a company with offices and production elsewhere too) have found that the HR manager in the Irish operation just cleaned out the social club accounts of somewhere below €20,000, she was given the atm/debit card while the finance manager was on maternity leave and just helped herself.
    So anyway HR manager strolls into a meeting announces that she accidentally used the wrong ATM card for the last few months and was resigning in a week, said she will give a cheque for the amount she took and then strolled back out again.
    All social committee meetings have been cancelled until after she leaves on Friday next and the finance manager has refused to let anyone look at the last years social club account statements until she (HR M) has gone.
    No Gardai called, all discussion forbidden and closed down and your one will get a glowing reference for the next poor unfortunate company that is foolish enough to hire her.
    The general feeling among the staff who pour money into the club is anger but they anyone who suggests confronting her or calling the Gardai is strongly discouraged by the rest "sure there's no point looking for blood" or the like given as reason.
    The latter group of inert, sheeplike lumps are the kind of gobsh1tes that let your Ray Burkes and your Lowrys walk away scot free and are unfortunately all too common in Ireland.
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  10. #10
    Analyzer Analyzer is offline
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    Lots of stories like that going around Prester Jim.

    Social clubs are often run by people on the fiddle. A bit like the scandal that was released by Phoenix magazine and Rehab.
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