Train bosses have come under fire for not prosecuting a wealthy hedge fund manager who was described as the “biggest fare dodger in railway history”, evading more than £42,000 in train tickets.
The City executive is believed to have dodged the fare for the 82-minute commute between the Sussex village of Stonegate and central London for five years. He exploited a flaw that allowed him to go through barriers at Cannon Street station in London by “tapping out” with an Oyster travelcard.
After finally being caught by a ticket inspector, the executive was able to pay £42,550 in dodged fares and £450 in legal costs within three days of being asked to pay up as part of an out-of-court settlement.
Train company Southeastern has refused to name the fund manager. Manuel Cortes, leader of the TSSA rail union, said: “It is not only extraordinary that the biggest fare dodger in railway history got away with it for so long, but has also now escaped criminal prosecution as well.”
A single fare from Stonegate to London costs £21.50 and an annual season ticket £4,548. The executive is believed to have bought neither between 2008 and the end of last year. Although he never admitted to this, he offered to settle the matter out of court.
It is thought he disembarked at London Bridge and caught a service to Cannon Street. At Cannon Street, he used an Oyster card to pass through, paying the maximum £7.20.
A Southeastern spokesman said: “All customers have the option to settle out of court and in this case he chose to pay the settlement fee that we put to him.”
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