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Robin Leigh-Pemberton

Robin Leigh-Pemberton served as the Governor of the Bank of England.

Lifespan 1927–2013 Location Hollingbourne, Kent, England Mentions 1 Tags PersonBCCI

Robin Leigh-Pemberton served as the Governor of the Bank of England.1

Role in BCCI Scandal

Leigh-Pemberton, along with Deputy Governor Eddie George, was aware of the disastrous 1990 Price Waterhouse audit of BCCI, which revealed that many of BCCI's transactions were "fraudulent and deceitful."2 Despite this knowledge, the Bank of England agreed to a plan in spring 1990 to allow BCCI to move its headquarters to Abu Dhabi and for Sheikh Zayed to take over the bank.3 This action effectively concealed BCCI's problems from its depositors and creditors.4

On June 28, 1991, Leigh-Pemberton and George decided to act, informing the Federal Reserve Bank of the impending seizure of BCCI in the United Kingdom.5 The Bank of England had been reluctant to shut down BCCI, despite knowing of its insolvency, and had been trying to persuade Sheikh Zayed to inject more money.6

Sources

  1. Beaty, Jonathan and Gwynne, S. C. The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI. New York: Random House, 1993, p. 10. ↩
  2. Beaty, Jonathan and Gwynne, S. C. The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI. New York: Random House, 1993, p. 135. ↩
  3. Beaty, Jonathan and Gwynne, S. C. The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI. New York: Random House, 1993, p. 135. ↩
  4. Beaty, Jonathan and Gwynne, S. C. The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI. New York: Random House, 1993, p. 135. ↩
  5. Beaty, Jonathan and Gwynne, S. C. The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI. New York: Random House, 1993, p. 146. ↩
  6. Beaty, Jonathan and Gwynne, S. C. The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI. New York: Random House, 1993, p. 55. ↩

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