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Johnson Matthey Bankers

Volume 87: debated on Tuesday 26 November 1985

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asked the Secretary of State for Trade and Industry (1) when he first became aware of possible losses to the Export Credits Guarantee Department arising out of alleged fraudulent trading by customers of Johnson Matthey Bankers and other banks;(2) when he first became aware of possible irregularities concerning guarantees given by the Export Credits Guarantee Department in relation to trade since 1981 carried on by customers of Johnson Matthey Bankers and other banks; and if he will make a statement.

[pursuant to his reply, 25 November 1985]: In the autumn of 1984 the Export Credits Guarantee Department asked City of London police to investigate a number of transactions where apparent irregularities relating to the Department's guarantees had come to light. Police inquiries are continuing on these and other transactions. The ECGD is co-operating fully with the police, and will continue to do so.