A Bristol couple have had their happy retirement ruined by a former friend who stole their £200,000 life savings.

Alan and Susan Thompson, from Kingswood, were the biggest victims of crooked accountant Michael Wike.

The 55-year-old was jailed for five years last week after raiding the accounts of friends and clients to the tune of £300,000.

The Thompsons had trusted him to invest their nest egg wisely. Instead, Wike stole the money and went on the run for more than a year.

Mr Thompson, 62, of Brockhurst Gardens, who spotted Wike walking the streets of Bristol and performed a citizen's arrest so he could be prosecuted, said: "The money was for our retirement, but now we're penniless. I've got to go back to work. Life would have been easy for us with that money. When something like this happens you feel like killing yourself.

"I'd known Michael for 20 years and he was my accountant. I'd sold my salvage business for £250,000 and he asked to borrow the £200,000 we had left because he had a business proposition.

"He was supposed to pay me some money back every month. I trusted him, so I let him borrow the money then I never heard from him again."

Mr Thompson, who is a boxing coach at the Empire gym in St Paul's and has trained fighters including former world champion Glenn Catley, went to Wike's address but was told by the landlord that he, too, was owed thousands of pounds. The disqualified accountant had carried on advising clients on tax rebates and investments through his unlimited firm after being banned from being a director of a limited company.

He built up a trusted reputation at the Hope and Anchor pub in Shirehampton, which he went on to run. But Wike, of Coombe Dingle, came unstuck when his debts spiralled out of control.

Also included in the 16 offences he admitted at Bristol Crown Court was stealing about £40,000 from his son's long-term partner.

Wike went missing in early 2008 and was actually caught by Mr Thompson in a citizen's arrest in St Jude's on June 16.

"I was driving along Wade Street with a friend when I saw him walking along," said Mr Thompson. "I stopped the car and he looked very shocked to see me as I grabbed him and put him in the car, but he didn't put up a fight. I'm the one who found him and took him to the police station, yet the police didn't even have the decency to tell me he was getting sent down. The first I knew about it was when I read it in the Evening Post. I didn't even get a thank-you.

"To read that they think there's 'no hope' of getting the money back is devastating."

The grandfather-of-four built up Alan Thompson Salvage in Cloudshill Road, St George, over 40 years, but is now working in security. He was planning to spend more time coaching Bristol's young amateur fighters but cannot devote as much time as he had hoped to his passion, as he is trying to scrape a living.

Avon and Somerset police's DC Nikki White said she did thank Mr Thompson for bringing Wike into Trinity Road police station.

She added: "I would like to pass on our thanks again and put on record our appreciation for the valuable part he played in the arrest.

"Our witness care unit do their very best to keep victims updated with details of court cases. In this instance, they spoke to Mr Thompson in August before an administrative hearing to check his availability as a witness.

"He was also sent a letter at the end of September to let him know that the case had been adjourned for sentencing but this date was later rearranged.

"We should have written to Mr Thompson to advise him of the change in the date and we are sorry that he was not aware of the rearranged date.

"Each witness care officer has a caseload of more than 1,000 civilian witnesses and priority must always be given to vulnerable or intimidated victims and in this instance we accept that our level of service to Mr Thompson fell below what he could expect."

The police have said it is unlikely any of the money stolen by Wike will ever be recovered.