Gambling addict: broker Jay Solder lost his job after his bogus insurance claims came to light Picture: Central News
A City insurance broker who funded a jet-set lifestyle with £43,000-worth of bogus claims for lost and stolen designer goods has been spared jail.
Jay Solder, 28, claimed burglars had raided his flat twice in the space of four months, taking Rolex and Omega watches, a MacBook Pro and a Mulberry bag.
But City of London investigators found the value of the stolen goods had been vastly inflated by Solder using bogus credit card statements.
They later found a Rolex hidden in his wardrobe with £6,000 in cash and a camera he repeatedly claimed had been lost.
Solder, described at the Old Bailey as a “highly successful” broker, also pretended four times that he had lost his coat with the pockets loaded with valuables while on flights around the world — claiming thousands of pounds on his travel insurance for a Burberry coat, a Sony digital camera, an HTC mobile phone, a Louis Vuitton wallet, an iPad Mini, and a Montblanc pen.
Solder used the proceeds from the scam to feed a gambling addiction and fund a lavish lifestyle, travelling to Australia, Denmark and Italy.
But when the fraud was discovered he lost his job in the City and had to move back in with his parents.
Solder was given a 21-month jail sentence suspended for two years and ordered to do 160 hours of community service after promising to pay back all the money he took within the next two weeks.
Judge Peter Rook told him: “You clearly planned what you did with some care, this must be regarded as a fraud of some sophistication.
“You had been working as an insurance broker, you knew about the business and on the face of it that’s an aggravating factor.”
Solder, of Ilford, pleaded guilty to six counts of fraud.
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