Two former recruiters were cleared of conspiring to defraud the Royal Bank of Scotland (RBS) at Southwark Crown Court on 7 May.

Stephen Lawrence from the Chelmsford area of Essex and Mark Starling from Brentwood in Essex were found not guilty of the charge after a seven-week trial. The pair were accused of defrauding the bank between 2005 and 2007 by entering false details into an online software programme as part of an invoice discounting facility agreed with RBS Invoice Finance, while they were directors of Chelmsford-based IT recruiter Quo Vadis Technology.

However, after a day’s deliberations, the jury ruled that the pair were not guilty.

Three others – Timothy Baker, of Wolverhampton Road, Walsall; Rachael Baker, of Great Saredon, Wolverhampton and Stephen Roberts, of Goldthorn Park, Wolverhampton – pleaded guilty to like charges at an earlier hearing and will be sentenced at a later date.