A man has been found guilty of murdering millionaire oil executive Carole Waugh, whose decomposing body was found in a lock up in New Malden last year.

Rakesh Bhayani, 41, was convicted today following a trial at the Old Bailey. He had already pleaded guilty to perverting the course of justice and conspiracy to defraud.

Co-defendant Nicholas Kutner was acquitted of murder but convicted of perverting the course of justice, having admitted conspiracy to defraud.

Miss Waugh's body was found in a blue VW Golf at a lock-up garage at Lime Court in New Malden on August 2, 2012.

A post morten examination found she died from a single stab wound, and had been dead for some time before her body was discovered.