Former Macfarlanes banking partner Francis Bridgeman has seen his 12-month prison term quashed at the Court of Appeal today (22 February) after he was last month sentenced for perverting the cause of justice.

Bridgeman was handed the year-long jail term last month after being found guilty of lying to police about being kidnapped to avoid arrest for drink-driving.

However, the sentence has now been suspended for two years as an "act of mercy" by the court in light of the fact that his wife is seriously ill, although he has already spent one month in prison. He was represented by City law firm Burton Copeland.

Bridgeman crashed – and abandoned – his car in April 2010 while over the limit but told police he had been kidnapped by armed men and driven off at knifepoint with a bag over his head in another vehicle before being dumped in a wood.

His version of events could not be substantiated, with CCTV footage showing him walking drunkenly in London, while the presence of his DNA on the car's airbag showed he must have been driving the car when it crashed.

Bridgeman was originally sentenced at Lewes Crown Court last month after being found guilty of perverting the course of justice on 16 December 2011, following a five-day trial at Brighton Crown Court.

Bridgeman's appointment as a member of Macfarlanes limited liability partnership was terminated on 31 July 2011. He joined Macfarlanes in 2009 from Allen & Overy, where he had been a partner since 2000.

In addition to the 12-month sentence Bridgeman was ordered to pay £4,200 in costs and was banned from driving for 18 months.