Private Banker Missing - £5m Gone

The Swiss authorities have now issued an arrest warrant for French national Gerard Bessard, who was employed as a premises manager in Geneva.

Bessard is now missing and is believed to be somewhere in France. He allegedly used the bank's name to sign up clients who assumed that they were banking with Lloyds.

It may be difficult to establish exactly how much is involved in the fraud as some of the 'victims' may not wish to come forward and be identified, fearing the scrutiny of French and Swiss tax authorities.

Those close to the matter believe, however, that the alleged fraudster could have got away with as much as £5m.