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UK: Ex-Co-op Bank chair charged with drug offenses

April 16, 2014

LONDON (AP) — Police have charged the former chairman of Britain’s troubled Co-operative Bank with drug offenses.

Paul Flowers, a Methodist minister, resigned from the bank last year amid claims of drug use and inappropriate expenses payments.

He was arrested in November after a tabloid newspaper published footage of him allegedly buying drugs.

West Yorkshire Police and prosecutors said Wednesday that Flowers was charged with possession of cocaine, methamphetamine and ketamime.

The Co-op is Britain’s biggest mutual society, active in everything from food to funerals to financial services.

Last year, faced with a 1.5 billion-pound ($2.4 billion) black hole in its banking division, the Co-op agreed to a rescue plan giving hedge funds a huge share of its operations.

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