Remember the fare dodging banker in London?

[fullyautomatix]

Maybe using his Oyster as described demonstrated he'd not got a ticket each time? Or maybe he was asked to prove he'd bought tickets - receipts or card statements - and couldn't. Seems a bit odd. Maybe he thought by paying up he'd keep his job but then lost out twice, or maybe his employer told him he'd get his bonus/benefits provided he helped them save face.

Maybe they have perves working on your train.

Was it not reported that he settled with the train company if they didnt take any further action on him and drop the whole affair ?

[JRCT]

The great unwashed don't understand libor fiddling. They do understand fare dodging.

The ban was handed down by the FCA. So you would hope they do know about LIBOR fiddling.

So why £42K he had to pay up?

Surely he didnt say, its a fair cop and admit he'd been doing it for years? Surely, he should just have said, I did it today or just this week after all..... Not saying its right but £42K!

And how'd he avoid the ticket collector on the train? they're red hot on the train I catch. Go for a crap and they wait outside the door!

I remember this story at the time and they'd somehow proved that he'd lived and worked where he was for x no of years and that he'd sporadically bought tickets for that same journey on enough occasions to suggest that he'd always made that journey. They then retrospectively worked out that he should have paid £XX,000s but had only paid about £160 or something similarly paltry.

He then held his hands up and agreed an 'out of court' £42k settlement, thinking that would close the matter. I think the admission was central to the FCA punishment. Maybe if he'd not admitted it, even if a court handed down a larger fine, he might have been alright. I don't know.

[Pondlife]

As I read it he had a season ticket up until 2008 but didn't renew. The fact that he then used his oystercard everyday proved a journey was made. I'm guessing he figured coming clean and coughing up a trivial amount to a hedge fund manager was infinitely better than than a perjury charge and the following repercussions.

[d000hg]

Was it not reported that he settled with the train company if they didnt take any further action on him and drop the whole affair ?

Hmm. It seems the onus would be on them to prove he had travelled without tickets then, not for him to prove otherwise?

Perhaps he figured anything on his record would screw his chances of getting back into work, and just paying up would mean he could get on with life. I'm sure loads of companies would still hire him, even with a "bad luck for getting caught" attitude!

[original PM]

The City watchdog said he "demonstrated a lack of honesty and integrity".

Well that's because he works in finance and that is seen as a strength!

[SimonMac]

Slightly off topic but..


Was reading something that the FCA is finding it very hard to keep staff as they are being poached by the big financials, seems good, if you can't beat them, buy them!