Five sentenced for 'callous' £2.8m share fraud

Between July 2010 and April 2014, the Financial Conduct Authority (FCA) said, in efforts to "maintain the lifestyle" of their ringleader Michael Nascimento, the fraudsters cold-called and subjected vulnerable people to high-pressure sales tactics to persuade them to purchase shares in a company that owned land on the island of Madeira. Cyber threat: How advisers can guard against growing fraud risk Investors were told the shares would increase substantially in price when permission to build 20 villas was granted, and were promised - but never received - guaranteed returns of between 1...