Royal British Bank


Royal British Bank

The Royal British Bank was a British joint-stock bank, established under a Royal Charter in 1849, that collapsed in 1856, causing a scandal.

In 1858 the eight directors — not including the bank's founder, John McGregor, Member of Parliament for Glasgow, who had left the bank in 1854 and died in 1857 — were put on trial for conspiracy to defraud the bank's customers at the Court of Queen's Bench before the Lord Chief Justice, Lord Campbell. On the first day of the trial the Prince of Wales attended and sat on the bench next to the Lord Chief Justice. The jury found each of the defendants guilty of the charges and they were imprisoned for terms ranging from three months to one year.

References

*cite book|url=http://books.google.co.uk/books?id=_CQsk8xG9CEC|title=Annual Register 1858|pages=330–339|accessdate=2008-03-02
*cite book|url=http://books.google.co.uk/books?id=vKns1MCdu3MC|title=Marx and Modernity|page=170|accessdate=2008-08-29


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