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