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International Business Times UK
International Business Times UK
Niloy Chakrabarti

HSBC Banker Banned From the City of London After Racking Up £5,900 in Unpaid Fares

FCA HSBC London Peter Barnett Southeastern Prison
A train-fare fraud conviction led to a suspended sentence, unpaid work, compensation, a rail ban, and an FCA prohibition. (Credit: Southeastern Railway Instagram.com)

A former HSBC executive has been barred from carrying out regulated financial services work in London after admitting to repeatedly dodging train fares of nearly £6,000 over 11 months.

Joseph Molloy, 53, was prohibited from performing any regulated activity by the Financial Conduct Authority (FCA) after his conviction for fraud by false representation. The regulator said his conviction demonstrated that he lacked the honesty and integrity expected of someone working in financial services.

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