A BUSINESSMAN who lied to police after being caught on camera speeding has had his prison sentence quashed.

Martin Preston-Davis served two weeks of his 14-week sentence behind bars before a crown court judge agreed that the punishment was too harsh and released him.

Preston-Davis, 51, must now complete 140 hours of community service after pleading guilty to perjury and speeding.

The foreign exchange dealer appealed against his sentence, which was imposed by New Forest magistrates on July 17.

Southampton Crown Court heard that Preston-Davis, of Sherecroft Gardens in Botley, was caught on a speed camera on the Northam Bridge in Southampton doing 36mph in a 30mph zone.

When the penalty notice arrived, he claimed it was not his car and he did not know who the driver was, as his car was out of action with a smashed rear window. He requested a copy of the speed camera image, then sent police a photograph of his car on his driveway, pointing out the differences.

The court heard that Preston-Davis, who lives with his partner and teenage daughter, in fact had two very similar Citroen XM cars.

He had put his personalised number plate - B4 MPD - on to the front of the second Citroen XM he had bought via an Internet auction site the day before as the car's front number plate was missing.

Louis Weston, representing Preston-Davis, who appeared in court from custody dressed smartly in a suit and tie, said: "Mr Preston-Davis is not an habitually dishonest man. He said he panicked as he thought the fact he had put the wrong number plate on the second car was a serious matter.

"Like many people out of their depth and doing something stupid, the more he struggled, the worse it got."

Mr Weston said that Preston-Davis' job has suffered as a result of the court case, as his registration with the Financial Services Authority has been suspended.

He added: "The 14-week sentence would be appropriate for someone who did this for financial gain or to take the blame for someone else, but this case is different."

Quashing the prison sentence, which would have come to an end on August 16, Judge Christopher Leigh QC told Preston-Davis: "If it had been anything other than stupidity, I would have no hesitation in upholding the sentence.

"But, in all the circumstances and that you have already served a period in custody, I am exercising a degree of mercy."

An application for Preston-Davis to be awarded costs, as he funded the appeal himself, was rejected.