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Beckenham bank executive jailed for fraud
A BECKENHAM bank executive has been jailed for his involvement in a top-level fraud scam.
Michael Corrigan, 48, of Hayne Road, earned a salary of £228,000 with a string of lucrative bonuses.
However, the risk and compliance director for Nigerian-owned Access Bank in the City of London was jailed for three years and four months after he pleaded guilty to four fraud offences.
Judge Nicholas Cooke said: "You were on a very handsome remuneration package - something most citizens of this country can only dream of."
Corrigan issued false guarantees as part of a £3.4 million sting in return for commission, according to prosecutor Rakesh Somaia.
This was despite receiving a £10,000 car allowance and a £50,000 bonus payment on top of his annual salary.
Yet, Thomas Buxton, defending, said they did not receive any money.
"He cannot understand why he would jeopardise a very good salary package and career for this," said the barrister.
"It was never going to work. It was obvious quickly that sales were not going to be successful."