The local authority said Sherard’s initial benefits application in 2016 was renewed three times between 2018 and 2020 and he received £30,000 in benefits overall.
The council investigation also found he previously owned an apartment in Dubai and a Surrey property that sold for £250,000 in 2019, according to the Local Democracy Reporting Service.
Bank transactions uncovered included a £126,000 deposit in 2016 and a £185,000 deposit in 2018.
He also was found to have spent nearly £400,000 between February 2016 and July 2019 at locations including Harrods, the Ritz, and restaurants in London’s Mayfair district.
Other transactions identified included private jet travel and school fees, the council said.
The council’s head of revenues, benefits and fraud, Simon Rosser, said the case was demonstrated “that fraud will not be tolerated within the borough”.
Sherard is due to be sentenced at Guildford Crown Court on 29 May.
