Insurance fraudster gets seven years

Michael Bright was sentenced to seven years for his part in the cover-up of the failing insurance firm, while finance director Dennis Lomas received four years and deputy manager Philip Condon will serve three years. Independent Insurance collapsed in 2001 in one of the most high-profile insolvencies ever seen in the industry. An investigation by the Serious Fraud Office and City of London Police led to the three being charged in late 2005. The trio were responsible for covering up financial figures, which would have shown the company was making losses and would adversely affect the c...