Disgraced bank manager may dodge bankruptcy

DISGRACED former Louth bank manager, Michael Silvester has been given the chance to save himself from bankruptcy.

Appeal Court judges in London heard Silvester was jailed for three years at Lincoln Crown Court in 2006 after admitting 22 counts of theft.

He landed a £460,000 court bill after he was convicted of stealing £166,000 from elderly customers of Lloyds TSB bank in Louth.

Silvester, 50, of Chestnut Grove, Bucknall, near Lincoln, was ordered to pay a £182,996 Crown Court confiscation order, but was shocked to learn earlier this year that a further civil order for more than £280,000 had been made.

It came from Lloyds TSB bank, for whom he worked, who wanted to reclaim their losses.

But Appeal judges said the two orders did not have to stand together.

Silvester is unable to pay the second bill and, even when his pension pot is cashed in, will be left tens of thousands of pounds short and will be likely to have to file for bankruptcy.

Mr Justice Jack ordered that prosecution lawyers be present at the appeal hearing, when lawyers will ask the court to overturn the entire £182,996 confiscation order.