This article was last updated on April 16, 2022
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Prime Minister David Cameron has told to arrange an inquiry into why Paul Flowers was considered to be suitable for appointment as chairman of the Co-operative bank in the first place.
West Yorkshire Police officers have conducted a search at the Bradford home of former Co-op Bank chairman Paul Flowers after he was filmed buying Crystal Meth along with the allegations of buying and using illegal drugs, including cocaine.
Mr. Cameron has told the House of Commons that the chancellor, George Osborne was discussing with regulators about the form of probe to hold after the revelations concerning Mr. Flowers, a Methodist minister who headed the bank from 2010 to 2013.
The former Labour councillor was forced to resign from Bradford Council in 2011 after “inappropriate but not illegal adult content” was found on his computer.
During prime minister’s questions, Mr. Cameron urged members of the public to come forward with information about the travails of the bank, which had posted losses over £559 million in August.
Mr. Prime minister has told that people were “very worried” about their investments as he sought to put pressure on the Labour leader, Ed Miliband: “This bank, driven into the wall by this chairman, has been giving soft loans to the Labour party, donations to the Labour party, trooped in and out of Downing Street . . . now we know they knew about his past.
“Why did they do nothing to bring to the attention of the authorities, this man who has broken a bank?”
During last year, Labour received £800,000 from the Co-op Group.
The Co-op group has also launched a “fact finding review” into Rev Flowers’ after the claims that he was using a hotel, paid for by the group, to entertain prostitutes that had been invited using his corporate email.
A former senior civil servant, Sir Christopher Kelly has also been hired to investigate how the capital hole that forced the bank into a bailout happened.
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