Former London Capital & Finance CEO sentenced for ten months

Hope William-Smith
clock • 1 min read

The former chief executive of infamous mini-bond provider London Capital & Finance (LCF) has received a ten month jail sentence, suspended for two years. The Serious Fraud Office (SFO) today (17 May) confirmed Michael Thomson breached a restraint order imposed on his bank account after it froze his assets as part of its wider investigation into suspected money laundering and fraud at LCF. The SFO said Thompson hid £40,000 from a tax rebate and a fake insurance claim and £55,000 for repair work which was never completed despite its restraint order. The £95,000 was paid into an accou...

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