This announcement confirms the sentences handed down today at Southwark Crown Court in relation to the Independent Insurance trial.
Michael Bright, Philip Condon and Dennis Lomas have today been sentenced to terms of imprisonment following their convictions announced yesterday.
Michael John Bright (d.o.b. 10.08.44), former chief executive officer, sentenced to seven years' imprisonment on each of two counts of conspiracy to defraud. Both sentences to run concurrently. Also disqualified from being a director of a company for 12 years.
Philip John Condon (d.o.b. 27.05.49), former deputy managing director, sentenced to three years' imprisonment on one count of conspiracy to defraud. Also disqualified from being a director of a company for 10 years.
Dennis Lomas (d.o.b. 04.11.50), former director of finance, sentenced to four years' imprisonment on each of two counts of conspiracy to defraud. The sentences to run concurrently. Also disqualified from being a director of a company for 10 years.
The SFO said "This has been one of the most technical and complex cases we've had to deal with. It took a diligent and painstaking investigation involving a mountain of documents. Around 30,000 pages constituted the prosecution case, nearly 240 witness statements were taken and over 1,500 documents shown to the jury. This is the nature of serious fraud investigations and prosecutions. We now have to deal with the important issue of confiscation"
Notes for editors:
The convictions were announced yesterday. See SFO press release of 23 October (at Press Release) together with an accompanying case briefing note (at Press Release).
Prosecuting counsel were Andrew Baillie QC, James Pavry and Emily Radcliffe.
The investigation was conducted in conjunction with the City of London Police, Economic Crime Department.
Press Office tel. 020 7239 7001/7190
Main switchboard tel: 020 7239 7272
Mobile 07818 076 688
Email press.office@sfo.gov.uk
