Old Pal's Act

Cameraman is facing a backlash after a millionaire businessman jailed for fraud, a former drugs dealer and a controversial Conservative Party donor appeared in today’s New Year Honours list.

The Prime Minister was accused of rewarding his party’s “friends in the City” after a knighthood was given to Paul Ruddock for services to the arts and a CBE to Gerald Ronson for his charity donations.  Ruddock, a hedge fund manager, profited from the collapse of Northern Rock and donated £500 000 to the Conservatives.  His company used a practice known as “short selling” to bet on shares in the bank falling. Northern Rock subsequently failed and had to be rescued by the taxpayer.

Ronson, a millionaire property developer, was convicted of theft, conspiracy and accounting fraud following the Guinness scandal in 1990.  He served six months of a one-year sentence and has always denied any wrongdoing.  The business tycoon, whose company built the tallest skyscraper in the City of London, has since given much of his fortune to charity. His wife also recently received an honour.

The Cabinet Office refused to confirm whether the honour was the first senior award to be given to someone who has been convicted of a crime.

Another contentious award was given to Christopher Preddie, a cousin of the two brothers found guilty of killing schoolboy Damilola Taylor in 2000.  The father of the murdered 10 year old last night criticised the Government for awarding Preddie, who used to be involved with drugs and gangs, an OBE for his campaign to tackle youth crime.

The awards appeared to undermine Cameron’s pledge to use the honours system to reward those who play a role in the “big society".

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