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Ex-London Capital & Finance boss handed 10-month suspended jail sentence

By Kirstin Ridley

The former boss of collapsed investment firm London Capital & Finance (LCF), which left about 11,000 investors facing 237 million pounds ($300 million) in losses, has been spared jail after breaching a court order freezing his assets.

A judge at London’s Southwark Crown Court sentenced Michael Thomson to 10-months in jail, suspended for two years, after the former CEO admitted a 95,000 pound spending spree on luxuries such as an Italian holiday, a hot tub, hotels and a saddle, the UK Serious Fraud Office (SFO) said.

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