This absolutely was a fraud. The (unfair) contract required postmasters to make good any shortfalls. The hundreds who were prosecuted either refused or ran out of their own money to make up the shortfalls. Many were sacked because they refused to sign the accounts, losing their livelihoods, pensions, life savings, homes and good names as a result. Thousands more were just quietly putting their own money in, sometimes unfairly suspecting an employee of theft, due to errors the Post Office knew about but refused to admit.
And a primary driver of the scandal was the imperative to make the Post Office profitable so that it could be privatised, with investigators paid partly based on how much money they recovered. New Labour and the Coalition both have much of this blood on their hands.
Gut-wrenchingly awful. The senior people responsible need to lose their livelihoods, pensions, life savings, homes and good names. I’m not a fan of carceral solutions and Noel Thomas, imprisoned for nine months before his conviction was overturned, says he would not wish it on anyone. He is right. But destitution is something these people visited on hundreds of people for their own financial gain and those gains need to come back to the people they harmed.