Nana Boateng and José Dias carried out the scam while they worked for Serco, the company that runs the cycle hire scheme throughout the capital.  

While based at the group’s north London office in Enfield, they arranged for refunds to be paid in to the accounts of seven friends between September and October 2010. 

Boateng and Dias will be sentenced on May 11. 

London Mayor Boris Johnson’s cycle hire scheme has been an out and out success since it was launched in July 2010, with millions of bikes being hired out for journeys across the city.  

Photo: Getty.