A senior writer at the Daily Telegraph has dramatically quit the newspaper after accusing its owners, the Barclay Brothers, of suppressing reports about the HSBC scandal out of fear of losing advertising revenue. Peter Oborne, the paper's chief political commentator and an award-winning author, announced his resignation [and] accused the Telegraph of committing a fraud" on readers. Mr Oborne detailed a series of investigations about HSBC, and other financial scandals, which he said executives at the newspaper had closed down. Mr Oborne wrote: "From the start of 2013 onwards stories critical of HSBC were discouraged [because] HSBC [had] suspended its advertising with the Telegraph. "Its account ... was extremely valuable. HSBC, as one former Telegraph executive told me, is 'the advertiser you literally cannot afford to offend'. "Winning back the HSBC advertising account became an urgent priority. It was eventually restored after approximately 12 months. Executives say that Murdoch MacLennan [chief executive of Telegraph Media Group] was determined not to allow any criticism of the international bank." As a result of a 2012 investigation into accounts held by HSBC in Jersey, he claimed: "Reporters were ordered to destroy all emails, reports and documents related to the HSBC investigation. I [resigned] as a matter of conscience. The past few years have seen the rise of shadowy executives who determine what truths can and what truths can't be conveyed across the mainstream media."
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