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From: Denc 🗡
Civil servants been nicking from National Savings, Hoodathunk…….. Never mind the bollox, they stole the money NS&I boss sacked over savings scandal Dax Harkins dismissed after The Telegraph revealed string of alleged failures The boss of National Savings and Investments has been forced out over a £476m savings scandal exposed by The Telegraph. Dax Harkins resigned as CEO of NS&I, the state-owned savings bank, following meetings with Treasury officials this week, it is understood. His position became untenable after The Telegraph revealed a series of failings at the bank, including accusations that NS&I had short-changed bereaved families by losing track of dead customers’ investments and withheld Premium Bonds, a monthly prize draw worth up to £1m. Torsten Bell, the pensions minister, confirmed that Mr Harkins had left the organisation. He said that Sir Jim Harra, the former boss of HMRC, would take over the leadership of NS&I on an interim basis. He said more than 34 million customer records had been reviewed. “That work is ongoing but it points to up to a maximum of around 37,500 customers with up to £476m in deposits being affected,” he told MPs. The Telegraph discovered that some families had been forced to hire lawyers to obtain cash that was rightfully theirs because the savings bank had lost track of customers’ life savings. The bank plans to repay the beneficiaries of some 37,500 deceased savers whose money has been withheld from them. In one case seen by the Telegraph, NS&I was forced to refund a customer’s family for tax interest and legal costs after the savings bank lost track of two accounts linked to an investment portfolio. In another case, NS&I failed to tell the daughter of a deceased saver about several bonds her mother had owned, and appeared to lose track of another £2,000 in Premium Bonds the daughter herself owned. One widower was denied premium bond prizes paid to his late wife’s accounts following a failure of NS&I’s phone lines that meant a “straightforward process” turned into “a prolonged and unhappy experience”.

Current Thread	Author	Time
Civil servants been nicking from National Savings, Hoodathunk…….....[more]	Denc 🗡	15:43:07
>> HMRc boss appointed to ensure most of it comes back to Govt in inheritance tax, ... [more]	Hamsterwheel	15:51:16
>> Police hunting main theft suspect believed to go by the name “Ernie”.	Hamsterwheel	15:56:53

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