Cops don't get convicted
What's the odds this doesn't get past the CPS?
The guy was a serving police officer for long enough to make contacts in the 'security' industry.
He's spent X amount of years collecting evidence, sending it to the CPS, phrasing his reports to them so as to suggest the evidence is good or otherwise, and then watching the cases get to court and succeed or fail - he knows what he's doing.
If a cop gets caught breaking the law at work, other cops will mismanage the evidence and otherwise influence the IPCC (worse than the CPS - staffed almost entirely by ... cops) so that the case won't see a judge.
If it's nothing to do with the perp being a cop (as in this case - the guy is now just a shady businessman), his own experience in the job will prepare him for any fallout.
My own guess?
He's already happily given an interview establishing his honest belief in the system, which would remove a necessary limb (being his knowledge of the deception) from the offence of fraud. And the transcript of that will go to the CPS, and of course there exists no evidence to prove that some other thing was in his mind. They'll look through all his marketing bumph and find no claims with any concrete intent to deceive. There's a chance it'll get to court, where he'll get not guilty.
And what's more, he saw the eventual allegation of fraud coming from the day he went to the 'Grab what you can in Iraq' trade fair, and planned for it since then.
Is my guess.