A crooked insurance chief and two of his former directors were jailed for up to seven years each today for covering up one of Britain's "worst commercial disasters".
Led by Michael Bright, once feted as one of the country's leading businessmen, they desperately sought to safeguard their reputations and well-paid jobs by hiding the company's ailing health.
They knew the market value of Independent Insurance - once the award-winning darling of the City - would plunge "dramatically" if full details of their losses ever became public knowledge.
London's Southwark Crown Court heard for years they pulled the wool over the eyes of fellow directors, the company's professional advisors and its investors in one of the most comprehensive cover-ups the City has seen.
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