Former HSBC executive faces court for 740 fare dodges in 11 months

Joseph Molloy, a millionaire and former senior executive at HSBC, appeared in a London court after repeatedly evading train fares.

Over 11 months, he used a scheme 740 times by buying tickets only for the first and last stations of his journey. The estimated loss to Southeastern Railway was about €6,700. He purchased tickets under false names and addresses between October 2023 and September 2024 and admitted guilt.

According to his lawyer, Molloy could not explain his actions. He previously led HSBC Global Asset Management and retired early last year.

The court sentenced him to a 10-month suspended term, 80 hours of community service, and a one-year ban from Southeastern Railway.

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