SFO holds ex-LCF CEO and wife in contempt for restraint order breaches
The Serious Fraud Office (SFO) has held Michael Thomson, former CEO of collapsed investment firm London Capital & Finance, and his wife in contempt of court after they admitted to multiple breaches of a restraint order. Thomson admitted to two reckless breaches while his wife admitted to four breaches, involving receiving a £2,000 holiday refund and selling items worth nearly £5,800. The breaches occurred while Thomson was serving a suspended sentence for a previous breach involving transferring £95,000 to his wife. The restraint order was imposed as part of the SFO's ongoing investigation into suspected fraud and money laundering at LCF, where 11,000 investors lost over £237m between 2014 and 2019. Both are scheduled for sentencing on 12 March 2026.