‘He knew his restraint but didn’t pay much heed’ court hears as former boss of collapsed investment firm, embroiled in £237m trial, is jailed for selling hot tub in contempt of court breach
Former chief executive officer of collapsed investment firm London Capital & Finance plc (LCF) Michael Thomson, and his estranged wife Debbie Thomson, both 53, have been sentenced for selling luxury items including horse saddles and a hot tub while under court restrictions.
Michael Thomson was given a six-month prison sentence at Southwark Crown Court. Debbie Thomson was sentenced to six months, suspended for two years.
Michael Thomson admitted to ‘recklessly breaching’ a Serious Fraud Office (SFO) restraint order twice, and Debbie four times.
This is part of an ongoing SFO investigation into the activities of LCF that led to 11,000 investors losing over £237m between 2014 and 2019. The SFO had frozen Thomson’s assets as part of its investigation into the suspected fraud.
