Lloyds TSB has raked in more than £147million by selling complicated investments to savers, internal documents reveal. The secret records show how Britain’s biggest bank sold a staggering 255,420 so-called structured products between 2006 and December 2011. But payouts on recently matured products have been pathetic and many were mis-sold by branch advisers. Over five years, Lloyds salesmen ploughed £2.95billion of savers’ cash into these fiendishly complicated funds linked to the stock market. On each sale, the bank took between 5 per cent and 8 per cent in charges upfront — a total of at least £147.5million......Read more here