A whistleblower has released what former Business Secretary, Vince Cable, calls ‘the smoking gun.’ Despite testimony to the contrary, it appears the Royal Bank of Scotland used its Global Restructuring Group to essentially take assets from clients at a steep discount. Ian Fraser, who long ago wrote about this aggressive behaviour at the bank in his book, "Shredded: Inside RBS, the Bank That Broke Britain", says that thousands of businesses were destroyed by the taxpayer owned bank and that the bank is also facing billions in fines to US authorities for its role in mortgage backed securities fraud.
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