Former Doctor Spared Prison For Spending Frozen Assets

By Richard Crump (July 29, 2022, 2:55 PM BST) -- A British businessman convicted of stealing £35 million ($42 million) from a software company was spared further imprisonment on Friday for using secret bank accounts to splash out tens of thousands of pounds on an extravagant lifestyle in breach of a restraint order.

Gerald Smith was sentenced to eight months imprisonment for contempt of court when he appeared before Judge Christopher Butcher at a High Court hearing, although he suspended the sentence for 18 months.

Judge Butcher said he was "satisfied the contempt in question merits a custodial sentence," but said he found that the "appropriate punishment doesn't require an immediate...

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