British Gang Involved in Boiler Room Fraud

British Gang Involved in Boiler Room FraudPolice have arrested thirteen members of a British gang that is accused of carrying out Europe’s biggest “boiler room” fraud.

The gang is accused of stealing at least £20 million out of victims by persuading them to buy shares in a company that had never traded. Police believe that there may be hundreds of victims.

The alleged leader was known to operate from Barcelona, a location favoured by boiler-rooms, so called because of the pressure to sell. Young ambitious e are promised what appear to be exciting jobs in Spain selling shares, but soon realise they are working for fraudsters.

The gang is said to have targeted investors accustomed to gambling on the stock market, with promises of high returns. They were repeatedly telephoned by the fraudsters, who claimed their investments were doing well and asked them to invest more.

With our experience and expertise Frenkels Forensics are able to assist with all types of forensic accounting investigations relating to commercial and business fraud.  We have also acted on many occasions for Defendants in these cases.  For more information please contact John Frenkel or Vivian Cohen on 020 8457 2929.

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