A gang of investment fraudsters who conned 73 people out of £700,000 have been jailed for up to six years at Southwark Crown Court.
Between November 2009 and August 2010 the eight men assisted in the running of a boiler room which offered stock market shares at discounted prices and sought after shares that were not actually available to buy by the general public, according to City of London police. The gang worked for a boiler room that used the names of genuine European companies to fool investors into buying shares that did not exist. The victims were led to believe that these were legitimate firms based in the UK approved by the Financial Services Authority, the regulator at the time. In reality they were m...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes