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Lloyds TSB and Man Financial to pay $16.6 million to settle US suit

UK banking giant Lloyds TSB has agreed to pay a settlement of $12.5 million (GBP6.25 million) over claims that it conned investors into endowing millions into a futures trading firm that was in fact a sham, while UK brokers firm Man Financial has agreed to pay $4.1 million, The Guardian has reported. However, neither firm has acknowledged any guilt.
17 Aug 2007, 14:30 GMT