A former HBoS banker who enjoyed sex parties and holidays around the globe while agreeing £245m in loans that could never be repaid is among those found guilty of fraud.
Lynden Scourfield, 54, forced struggling clients to use the services of his friend David Mills, 60, in return for romps with high-class hookers and lavish gifts.
Scourfield liked the escorts to dress in suspenders and kept a drawer full of viagra because he often could not manage to get an erection.
He pumped eye-watering sums of cash into the failing businesses as Mills and his associates charged exorbitant fees for “consultancy services” and ran the companies into the ground.
HBoS, once the UK's biggest mortgage lender, suffered a devastating collapse during the 2008 credit crunch - and taxpayers were left to foot the £20.5bn bill.
Scourfield admitted conspiracy to corrupt, money laundering and four counts of fraudulent trading at Southwark Crown Court in August last year and is currently behind bars.
Mills, his wife Alison Mills, 51, fellow consultant Michael Bancroft, 73, and HBoS banker Mark Dobson, 56, were convicted with him of offences including conspiracy to corrupt, fraudulent trading and conspiracy to conceal criminal property after a four-and-a-half month trial.
Accountant John Cartwright, 72, was found guilty of conspiracy to conceal criminal property but Jonathan Cohen, 57, was cleared of involvement in the conspiracy.
Scourfield, a director of impaired assets for HBoS based in Reading, appointed Mills' firm QCS to administer bank loans to companies in financial difficulty.
As an adviser to struggling customers he recommended Mills as an expert to rescue their failing businesses.
In return Scourfield was lavished with cash, expensive gifts, the use of an American Express card, and luxurious foreign travel.
The HBoS loans scandal came to light after a six year investigation dubbed Operation Hornet, by Thames Valley Police.
The probe uncovered evidence of “huge rewards” provided by Mills to Scourfield to “effect his corruption”, between 2003 and 2007.
Brian O'Neill, prosecuting, said: “This took the form of money transfers, birthday parties in Barbados and Thailand, expensive gifts, use of an American Express card for personal spending, unauthorised and inappropriately lavish hospitality, luxurious foreign travel and sexual encounters with high class escorts.”
Mills used much more than just money and gifts to keep Scourfield “sweet”.
Porn star Suzie Best, a favourite of Scourfield, did a girl-on-girl show for a the group, who she described as the “posh twat bankers”.
She recalled giving oral sex to some of the men including Scourfield, who she described as a “Danny DeVito lookalike”.
She said the man with “grey, brushed-back hair” asked her to go to the bedroom with him, but she “didn't think he could get an erection at any stage”.
Scourfield also “suffered from premature ejaculation, liked to undress girls and liked girls to wear suspenders and mini-dresses”, the court heard.
Envelopes filled with wads of cash were delivered Scourfield at a flat in Portman Square.
If he was not there they were left in the “blue drawer” which was where Bancroft kept a stash of viagra.
The tab for their worldwide escapades was put on the expenses of the failing companies which were used as a “cash-cow” and a “bank within the bank”.
A 2010 report stated of the £250m written off by the impaired assets division at HBoS £245m related to customers under Scourfield's management.
Scourfield pressured struggling businesses use Mills' advisory company QCS to obtain further bank lending.
Massive sums of money were advanced to the businesses by Scourfield when is was obvious that the cash could never be repaid.
Bristol-based engineering company Bradman Lake Group footed the bill for some of Scourfield's trips and ended up going bust with debts to Hbos of £36m.
Another company, Clode, was left in debt of “in excess of £20.5m” and tie manufacturer Theros was left “almost £21m” in debt to the bank.
Porn magazine publishers Remnant, who supplied some of the girls for the banker's parties, were left with debts of “in excess of £16m”.
More than £28m passed through the personal accounts of Mr and Mrs Mills, the court heard.
Mills, of Moreton-in-Marsh, Gloucestershire, was found guilty of one count of conspiracy to corrupt, four counts of fraudulent trading and one count of conspiracy to conceal criminal property.
Dobson, of north London, was found guilty of one count of conspiracy to corrupt and one of conspiracy to conceal criminal property.
Bancroft, of Shipston-on-Stour, Warwickshire, was found guilty of one count of conspiracy to corrupt, three counts of fraudulent trading and one count of conspiracy to conceal criminal property.
Alison Mills, of Moreton-in-Marsh, Gloucestershire, was cleared of one count of fraudulent trading but found guilty of one count of conspiracy to conceal criminal property.
Cartwright, of Hyde, Cheshire, was cleared of one count of fraudulent trading but convicted of one count of conspiracy to conceal criminal property.
Cohen, of Pinner, Middlesex, was cleared of one count of fraudulent trading and one count of conspiracy to conceal criminal property.
