Former Blackrock MD banned for cheating on train fares

Posted at December 15, 2014 | Categories : News

The Financial Conduct Authority has banned a former managing director at Blackrock Asset Management for failing to purchase a valid ticket whilst travelling from Stonegate railway station, East Sussex, to London’s Cannon Street Station.

After being caught out by staff at Cannon Street, Jonathan Burrows admitted to evading his rail fares on a number of occasions by boarding a London bound train at Stonegate, a rural station with no barriers, without purchasing a ticket.

Once he arrived in London he exited through the barriers by “tapping out” using an Oyster travel card, paying the maximum fare of £7.20 rather than paying for a ticket costing £21.50.

According to reports, Mr Burrows has settled up with the train operator by handing over £43,000 to cover evaded fares.