Royal Bank of Scotland Ignored Carbon Trading Fraud, Court Rules
- Court finds traders didn’t question lucrative transactions
- Value-added tax fraud spread to power market as well
A window reflects a Royal Bank of Scotland Group Plc logo at a bank branch in London.
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
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Royal Bank of Scotland Group Plc acted dishonestly and pushed transactions with a lucrative client, ignoring obvious signs of fraud in a flurry of carbon trades more than a decade ago, a U.K. court ruled this week.