Chelsea Linked to Merger After Being Hit with Pounds 41m Charge
Birmingham Post › August 24, 2009
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Summary
Chelsea Building Society is being linked with a merger after revealing it was hit by a pounds 41 million charge relating to mortgage fraud on buy-to-let loans.
The Cheltenham-based mutual could fall to a rival, according to reports, after posting pounds 26 million losses for the first half of the year, compared with pre-tax profits of pounds 23 million posted a year earlier.See the full content of this document
Extract
Chelsea Linked to Merger After Being Hit with Pounds 41m Charge
It blamed "third party professionals" for unscrupulous behaviour in artificially inf...
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