Sign in to follow this  
Followers 0
underwriter

HEDGE FUND MANAGER... DODGING FARE

12 posts in this topic

Hedge fund manager 'in £42,550 train fare dodge'

 

 

 

 

 

 

The senior executive is thought to have avoided paying full fares for five years

 

 

 

 

 

A city executive is believed to have dodged paying £42,550 in train fares by exploiting a loophole which meant he only paid a third of the journey cost.

 

 

 

The hedge fund manager from Stonegate, in East Sussex, who has not been named, had an Oyster Travelcard and regularly travelled to and from London.

 

 

 

Southeastern said he commuted from Stonegate to London Bridge, where he caught another train to Cannon Street.

 

 

His Oyster was only used at Cannon Street so he paid a maximum £7.20 fare.

 

 

'Tapped out'

The rural station at Stonegate has no ticket barriers, so the man was able to avoid "tapping in" with his Oyster card, and only "tapped out" through the barriers once he reached Cannon Street.

 

 

 

He also managed to avoid ticket inspectors on the train, Southeastern said.

The then maximum fare of £7.20 was incurred when a passenger "tapped out" through a barrier without having "tapped in", a Southeastern spokesman said.

 

 

 

The executive was eventually caught in November last year by a ticket inspector standing next to the barriers.

 

 

He paid back the £42,550 in dodged fares, plus £450 in legal costs, within three days as part of an out-of-court settlement.

 

 

Southeastern said it believed he had been dodging the fare for five years as his last annual season ticket from Stonegate expired in 2008 and within five days of being challenged he renewed his lapsed ticket.

 

 

The spokesman for the company said: "We recognise that this issue is important to customers who pay their way and expect the system to treat them with fairness by acting against people who don't buy tickets."

 

 

 

He was from BLACKROCK in moorgate... TUT TUT TUT millionaire like him...

 

0

Share this post


Link to post
Share on other sites

How do you think guys like him stay rich?  :lol:

2

Share this post


Link to post
Share on other sites

tut tut, he should have switched up the oyster if he was gonna commit fraud with it

0

Share this post


Link to post
Share on other sites

Conclusion upon seeing this thread and reading the article:

 

All people who work in The City are rich, greedy and evil. Poor people don't commit crimes, neither do middle income people, it's only people who work in The City. They are the worst individuals in the world. They worked hard for all those years to earn all that money, but forget all of that, because they didn't grow up blaming the world for any obstacles they might have faced or hard times, ergo, they are evil. 

-5

Share this post


Link to post
Share on other sites

A lifetime ban from working in the city aswell :rofl:

 

Wonder which loophole he's going to exploit to get around that

1

Share this post


Link to post
Share on other sites

where does it say a lifetime ban?

0

Share this post


Link to post
Share on other sites

Conclusion upon seeing this thread and reading the article:

All people who work in The City are rich, greedy and evil. Poor people don't commit crimes, neither do middle income people, it's only people who work in The City. They are the worst individuals in the world. They worked hard for all those years to earn all that money, but forget all of that, because they didn't grow up blaming the world for any obstacles they might have faced or hard times, ergo, they are evil.

What? Which reply?

Should have left that in the draft folder and dropped it on page 3 of the topic.

0

Share this post


Link to post
Share on other sites

he just read the title and made an assumption on what replies we'd make, probably should have waited until more than 2 were posted

0

Share this post


Link to post
Share on other sites

Conclusion upon seeing this thread and reading the article:

 

All people who work in The City are rich, greedy and evil. Poor people don't commit crimes, neither do middle income people, it's only people who work in The City. They are the worst individuals in the world. They worked hard for all those years to earn all that money, but forget all of that, because they didn't grow up blaming the world for any obstacles they might have faced or hard times, ergo, they are evil. 

 

Lol!

[/thread]

0

Share this post


Link to post
Share on other sites

where does it say a lifetime ban?

 

it said lifetime ban in the evening standard on Mondays paper...

 

No more working in the city for him

0

Share this post


Link to post
Share on other sites

 

Conclusion upon seeing this thread and reading the article:

All people who work in The City are rich, greedy and evil. Poor people don't commit crimes, neither do middle income people, it's only people who work in The City. They are the worst individuals in the world. They worked hard for all those years to earn all that money, but forget all of that, because they didn't grow up blaming the world for any obstacles they might have faced or hard times, ergo, they are evil.

What? Which reply?

Should have left that in the draft folder and dropped it on page 3 of the topic.

 

I didn't mention the word reply once.

0

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!


Register a new account

Sign in

Already have an account? Sign in here.


Sign In Now
Sign in to follow this  
Followers 0