'Robin Hood' banker goes to jail

A "Robin Hood" bank worker diverted £7 million of his corporate clients' money to help out other businesses who were struggling financially, it has emerged.Benedict Hancock, 39, was sentenced to 18 months in jail at Blackfriars Crown Court for his false accounting.The court also heard that the majority of clients who had money transferred away from their accounts did not notice that it was missing.Those who did, however, were told by the Royal Bank of Scotland senior relationship manager that it had been moved in to Bank of England bonds. Mr Hancock's barrister, Andrew Lloyd-Eley, said: "The only explanation he gave was that he wanted the companies to do well. He got on well with them and he wanted to make sure that they succeeded for their sake rather than his. All of Mr Hancock's customers - and the bank - spoke very highly of him. He was dedicated to his job."Delivering sentence, judge Ian Karsten QC told the defendant that he believed he had made "no direct financial gain" from his transfers."I am satisfied that there was an element of indirect personal gain," he added. "The motivation was to ensure that you remained in good stead with your superiors so that you received your annual bonus."