1 Mar 2016

Benefit fraudster commits fraud to hide his conviction

A City compliance officer responsible for ensuring his firm followed the rules of the financial markets forged official papers to hide his conviction for fraud.

Adam Lancelot, 39, was caught in 2012 receiving hundreds of pounds in benefits despite being employed by firms such as Barclays Wealth and Bank of America.

He was sentenced to 300 hours’ community service but doctored Maidstone crown court papers to say that he had been cleared of the fraud on appeal.

Prosecutor Kate Shilton told City of London magistrates’ court that Lancelot was interviewed for a job at Worldwide Currencies Ltd in 2014, and when questioned about a newspaper report about his 2012 conviction “said he had been acquitted and had the document to prove that fact”. But Maidstone crown court refuted this and Lancelot, of East Sussex, was sacked.

City of London magistrates’ court was told he sought £10,000 in libel damages from The Daily Telegraph for reporting his 2012 conviction and spent £180,000 trying to have online reports removed.

Lancelot, who now works for London-based Icon Finance, admitted fraud and will be sentenced at the Old Bailey.


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