Ex-LCF CEO Michael Thomson and wife Debbie admit court order breaches

UK SFO Cases & Publications

Filed January 29th, 2026

Detected March 13th, 2026

Summary

The Serious Fraud Office (SFO) has announced that Michael and Debbie Thomson, formerly associated with London Capital & Finance Plc (LCF), have admitted to multiple breaches of a court-ordered restraint. This admission has led to them being held in contempt of court. Sentencing is scheduled for April 2, 2026.

View original document View source feed page

What changed

The Serious Fraud Office (SFO) has reported that Michael Thomson, former CEO of LCF, and his wife Debbie Thomson, have admitted to multiple breaches of a court-ordered restraint. Michael Thomson admitted to two breaches, including transferring funds to his wife, while Debbie Thomson admitted to four breaches, involving the sale of assets and receipt of a holiday refund, totaling nearly £5,800. These actions occurred while Michael Thomson was serving a suspended sentence for a previous breach. The SFO's investigation into LCF concerns suspected fraud and money laundering, which led to over 11,000 investors losing more than £237 million between 2014 and 2019.

This development signifies a serious breach of court orders designed to preserve assets during an ongoing criminal investigation. Regulated entities and individuals involved in financial investigations should note the SFO's commitment to enforcing restraint orders. The Thomsons are scheduled for sentencing on April 2, 2026, and further penalties are expected. This case underscores the critical importance of strict adherence to court orders and the potential severe consequences, including contempt of court, for non-compliance.

What to do next

Review internal procedures for adherence to asset restraint orders.
Ensure all asset transfers and disposals are compliant with court orders.
Consult legal counsel regarding any potential breaches of restraint orders.

Penalties

Contempt of court, sentencing scheduled for April 2, 2026.

Source document (simplified)

Press release

Ex-LCF CEO and wife admit to multiple breaches of court order

SFO action results in Michael and Debbie Thomson held in contempt.

From: Serious Fraud Office Published 29 January 2026 Last updated 12 March 2026
— See all updates

Today, Michael Thomson, former Chief Executive Officer of collapsed investment firm London Capital & Finance Plc (LCF) and his wife, Debbie Thomson, admitted to several breaches of a restraint order. The pair have been held in contempt of court following a Serious Fraud Office (SFO) application.

Michael and Debbie Thomson are subject to restraint proceedings imposed as part of the SFO’s ongoing investigation into suspected fraud and money laundering at LCF. A restraint order is designed to preserve assets while criminal proceedings are ongoing. Michael Thomson admitted to recklessly breaching the order on two occasions, whilst Debbie admitted to four breaches.

In breach of the order, SFO investigators found the Thomsons received a £2,000 holiday refund and sold items – including a hot tub and horse saddles – with a combined value of nearly £5,800. This took place whilst Michael Thomson was serving a suspended sentence for a previous breach of the order for transferring £95,000 to his wife, in a previous attempt to conceal funds from investigators.

The SFO is investigating activities at the company that led to 11,000 investors losing over £237m between 2014 and 2019.

Michael and Debbie Thomson are scheduled to be sentenced on 2 April 2026.

Paul Napper, Head of Proceeds of Crime and International Assistance Division, said:

This is the second time the Serious Fraud Office has successfully held Michael Thomson in contempt for brazenly breaching his restraint order. We remain committed to taking decisive action whenever we uncover restraint orders are not being adhered to.
Press Office

Email news@sfo.gov.uk

Out of hours press office contact number +44 (0)7557 009842