HSBC banker banned from City for dodging £5,900 train fares on commute from £2m home

Joseph Molloy, 53, was sentenced to 10 months imprisonment suspended for 18 months.A rich banker has been banned from the City after dodging £5,900 in train fares on a commute from his £2million home. Joseph Molloy, 53, pleaded guilty to fraud by false representation after using a tactic known as “doughnutting” between his house in Orpington, south London, and HSBC’s headquarters in the capital’s Canary Wharf financial district.