The former boss of the Co-op Bank, Paul Flowers has been arrested by police in connection with a ‘drug supply investigation’.
Despite being questioned by police, his lawyers have said they are pretty confident no charges will be brought against their client as generally ‘bankers don’t go to prison’.
“People say bankers learnt nothing after the global financial crash,” a member of his legal team said. “But they did actually learn one very important lesson. Bankers don’t go to jail, especially the incompetent ones.
“Look at Fred Godwin. His negligence that caused the collapse and subsequent tax-payer bail-out of RBS was criminal. He may have lost his meaningless ‘Sir’ title, but he retained his freedom, and £370,000-a-year salary.
“And he’s not the only one. The financial crisis that has gripped much of the world for the last 6 years was caused by bankers gambling, often illegally, with people’s money and lives. They say ‘money can’t buy you happiness’, but it’s great for immunity to prosecution.”
Speaking of his clients predicament, the lawyer continued: “We know that potential drug related charges are nothing to be sniffed at, but he will give it a bloody good try.
“We may try getting him reinstated at the bank to guarantee he doesn’t have to face a jury, but apparently they do proper checks now so that might not be an option.
“Nevertheless, give us a few hours and we are confident Flowers will come out of this smelling like a bed of roses.”