Offbeat | London banker banned for dodging rail fares

A London banker has been banned from working in the financial services industry after he was caught dodging rail fares. The Financial Conduct Authority (FCA) said in a statement Monday that Jonathan Burrows has been banned for not being “fit and proper.” The former BlackRock director would board a train at Stonegate, a suburb nearly 60 miles southeast of London, for his daily commute and, after arriving at London’s Cannon Street, pay only 7.20 pounds ($11.70) for the journey, instead of the full 21.50 pounds price that was required for that journey, railway officials said.
By boarding at a station without a ticket gate barrier, Burrows was able to use a loophole in the system of pre-paid transport passes. When arriving in London he touched out with his pass, which is only valid for travel within London, and was charged only 7.20 pounds. He should instead have bought a full ticket for traveling into the city from Stonegate. Burrows paid 43,000 pounds (USD67,000) in an out-of-court-settlement with Southeastern railways. Michelle Ulyatt, a Southeastern spokeswoman, said the company believed Burrows was dodging fares for up to five years.