Former CEO of London Capital & Finance Sentenced to Prison

Former London Capital & Finance Plc (LCF) CEO Michael Thomson and his wife Debbie Thomson have been sentenced following action by the UK's Serious Fraud Office (SFO) for breaching a restraint order. The couple sold restrained assets, including a hot tub and horse saddles, valued at nearly £5,800. Michael Thomson received an immediate six-month prison sentence, while Debbie Thomson was given a six-month sentence suspended for two years.

The judge described the breaches as an attack on the administration of justice. Michael Thomson admitted to recklessly breaching the SFO order twice, and his wife admitted to four breaches, which also included receiving a £2,000 holiday refund. At the time of the offences, Thomson was already serving a suspended sentence for a prior breach involving a £95,000 transfer to his wife to conceal funds.

Thomson's assets remain under restraint as part of the ongoing SFO investigation into suspected fraud and money laundering at the collapsed investment firm. Investigators state the couple's actions have led to the dissipation of over £100,000 in assets. The SFO's wider probe into LCF focuses on activities that resulted in 11,000 investors losing more than £237 million between 2014 and 2019.