"US$1060 to fly from LHR to Ecuador in a premium cabin sounds like a legitimately decent deal to me. It’s not the best price I’ve seen for such kind of trip, and it’s multiple times more expensive than the economy class prices I’ve seen for Europe to Ecuador trips. So unless the issued ticket was fraudulently purchased, BA should honor the issued tickets and the applicable fare rules."

Buying such a ticket with proper funds is not fraud; and non-fraudulent purchases may be considered generally legitimate purchases -- whether or not a party/counterparty to a sale/contract unilaterally attempt to void the contract/sale or not.