A businessman who admitted conning £51,780 from an insurance company has been handed a suspended sentence at Oxford Crown Court.

Patrick Cannon made claims under a policy taken out with FirstAssist Insurance Services, which covered his mortgage repayments in case of unemployment, when he lost his job six years ago.

But Oxford Crown Court heard on Friday that the 59-year-old continued claiming the insurance pay-outs after securing a new job. Alan Maines, prosecuting, said Cannon was well aware he was committing a “fairly substantial fraud”.

“Eventually, and not surprisingly, the insurance company realised something had been going on and they instructed a firm of assessors to make inquiries,” he told the court.

Cannon, of High Street, Tetsworth, near Thame, admitted three charges of obtaining a money transfer by deception. Tony McGeorge, defending, said: “Mr Cannon turns 60 in January and at his time of life securing decent employment is difficult.

“This started off as a legitimate claim. The terms of the insurance meant he was not entitled to claim as soon as he got any work.”

Judge Christopher Compston handed Cannon a 12-month jail sentence, suspended for two years, ordered that he did 150 hours’ unpaid work and paid £500 costs.

He said: “You are indeed in a very sad situation.

“Although the fraud is technically £52,000, the way I see it is you would have been entitled to £25,000 of it. In many ways I feel you have been punished enough already.”