Taxpayer-funded Bank of Scotland has written-off more than £2m ($3m) after being caught up in a failed leasing deal, a BBC investigation has found. The bank was owed money for equipment leases sold to British golf clubs by Elumina, a business run by a previously disqualified company director. Many former Elumina customers are also thousands of pounds out of pocket. Bank of Scotland insists it is not at fault but critics demand improved regulation in the selling of leases. Elumina persuaded more than 100 golf clubs across the UK and Ireland to install sat-nav style GPS screens into the their motorised golf buggies.

The screens measured the distance to the next hole, identified hazards and allowed golfers to order food and drink while they were on the course. Elumina's sales reps told customers that the rental cost of the GPS units would be offset by on-screen advertising sold through another company, GP Ads Ltd. Andrew Smith from the Whitehill Golf Club in Stevenage, Hertfordshire thought it seemed like a....Read more here---: BBC News - Bank of Scotland loses £2m in failed golf club lease deal