Indie FD sentenced to four years

Dennis Lomas, former FD of Independent Insurance has been hit with a
four-year jail term at Southwark Crown Court after being found guilty of
defrauding shareholders.

Within the past hour, he and his fellow directors, chief exec Michael Bright
and deputy managing director Philip Condon were in the dock to receive their

For his part in hiding the true financial position of the collapsed insurance
giant, Judge Rivlin QC gave Lomas four years and also banned him from being a
company director for 10 years.

Bright was sentenced to seven years, while Condon was sent to prison for
three years.

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