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West Midlands conman receives six-year jail sentence

In a stark reminder that fraud in the UK has increased substantially over the last few years, a West Midlands businessmen has been jailed for stealing more than £850,000 from HSBC and Royal Bank of Scotland. The complicated fraud saw the money laundered by the businessman's wife and colleague and later used to acquire a large manor house and luxury cars.

What makes the fraud more unbelievable is the fact that the businessmen was bankrupt at the time and even when he was on bail for the Royal Bank of Scotland fraud, which amounted to £600,000, he was able to carry out a further £250,000 fraud on HSBC. While details are sketchy regarding how exactly he managed to pull off these large-scale frauds despite being bankrupt at the time, police confirmed it has taken more than two years to follow the money trail which finally led to Timothy Baker.

While it is a relief to see that the authorities finally managed to track down the man behind the fraud, the fact that he was able to get anywhere near £850,000 of funding despite being bankrupt is a concern to many banking customers. Now more than ever the UK banking community needs to be on red alert for potential frauds and criminal activity.

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