§ 39. Mr. Yeoasked the Attorney-General how many prosecutions have been brought in the last 12 months against members or former members of Lloyd's.
§ The Attorney-GeneralI take the question to refer to prosecutions of members of Lloyd's arising from transactions undertaken by them in that capacity. There have been no such prosecutions by the Director of Public Prosecutions during the past 12 months. I cannot speak for other prosecuting authorities.
§ Mr. YeoDoes my right hon. and learned Friend agree that by far the best possible deterrent to potential fraudsters is the likelihood of being prosecuted successfully, leading to a conviction? Is he aware that it is offensive to many members of the public and Lloyd's that there are still at large individual former members of Lloyd's who appear to have milked their members of enormous sums?
§ The Attorney-GeneralI agree with my hon. Friend that prosecution and conviction is a good deterrent. Steady progress has been maintained by the fraud investigation group, and I am satisfied that the length of time taken is attributable to the complexity of the case and the nature of the problems, particularly of obtaining evidence from overseas, which must be overcome. All those concerned are endeavouring to bring the investigations to a satisfactory conclusion as expeditiously as possible.
§ Mr. BerminghamDoes the Attorney-General agree that part of the problem has been the inadequacy and lack of legal back-up facilities of solicitors? Does he hope that once the Crown Prosecution Service is both fully staffed and manned in London that sort of support service will be available and will enable prosecutions to be brought far more speedily?
§ The Attorney-GeneralWe have not had any lack of suitable solicitors available. On the fraud investigation group problem, counsel has been deeply involved throughout, as well as FIG itself.
§ Mr. SackvilleDoes my right hon. and learned Friend agree that the matter of the PCW syndicate has been as scandalous as it has been damaging to the reputation of the City of London? Will he confirm that everything possible is being done to prosecute those who are responsible?
§ The Attorney-GeneralAs I said, the problem has been one of obtaining evidence from overseas. That has been the most significant difficulty. We have now managed to overcome many of the problems that confronted us earlier.