A HEDGE fund manager from Stonegate has been proclaimed Britain’s biggest fare dodger.
The senior executive evaded paying almost £43,000 in train tickets for his daily commute from Stonegate in East Sussex to central London for five years, but has avoided prosecution via an out-of-court settlement.
He is thought to have exploited a loophole which allowed him to pass through exit barriers at London Cannon Street by “tapping out” with an Oyster card – paying only a third of the actual cost of his journey.
After finally being caught by a ticket inspector, the executive was in a position to pay up £42,550 of unpaid fares and £450 legal costs within three days as part of an out-of-court settlement.
Southeastern trains has refused to name the man involved but a spokesman for the train company said he was caught out when an inspector noticed he had paid the standards fare charged to passengers who fail to "tap in".
The repayment was calculated on the basis of single fares rather than the cost of a season ticket.
The spokesman added: "Fare dodging is something we take very seriously to protect the proceeds of everybody else's tickets. We are rigorous in making sure we catch the people who dodge the fare."