Ex-Co-op Bank chairman apologises after drug allegations

FORMER Co-op Bank chairman Paul Flowers has apologised after a newspaper reported he bought and used illegal drugs.

The Mail on Sunday published a video showing Paul Flowers, who is also a Methodist minister, handing over £300 in a car, apparently to buy cocaine.

The newspaper alleges Mr Flowers, who left the Co-op in June, was involved in the transaction earlier in the month, three days after appearing before a Treasury Select Committee which is investigating why the Co-op’s bid to buy more than 600 Lloyds branches collapsed.

The bank is currently attempting to finalise a £1.5bn rescue deal after racking up huge losses.

In a statement Mr Flowers, ex-chair of Manchester drugs project Lifeline and the city’s Camerata chamber orchestra, said: “This year has been incredibly difficult with a death in the family and the pressures of my role with the Co-operative Bank. At the lowest point in this terrible period, I did things that were stupid and wrong.

“I am sorry for this, and I am seeking professional help, and apologise to all I have hurt or failed by my actions.”

The Methodist Church said Mr Flowers, who is a minister in Bradford, has been suspended pending an investigation.

A spokesman said: “We expect high standards of our ministers and we have procedures in place for when ministers fail to meet those standards. Paul is suspended from duties for a period of three weeks pending investigations and will not be available to carry out any ministerial work.

“We will also work with the police if they feel a crime has been committed. We are also asking people to pray for all those involved in and affected by this story.”

Mr Flowers was chairman of the bank from April 2010 until June. The Co-op Bank has so far declined to comment. West Yorkshire Police said it was aware of the allegations and was now making further enquiries.