Categories: Economy

Paul Flowers: Disgraced former Co-op Financial institution boss jailed for 3 years for fraud


The disgraced former chair of the Co-op Financial institution, Paul Flowers, has been jailed for 3 years on fraud fees.

The 74-year previous, who was pressured out of the lender in 2013 amid claims of inappropriate bills and unlawful medicine allegations, admitted 18 counts of fraud price practically £100,000.

Flowers, additionally a former Methodist minister, dedicated the offences towards an aged and susceptible good friend.

He had beforehand made headlines for the unsuitable causes after his three-year tenure on the financial institution got here beneath scrutiny within the wake of its 2017 rescue by US hedge funds.

He was fined £400 in 2024 after pleading responsible to possessing cocaine, ketamine and crystal meth – main him to being dubbed “the Crystal Methodist” within the press.

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