Police have swooped on a network of criminal gangs dedicated to fleecing investors. How big is the problem? Simon Wilson investigates.
Police in Spain and Britain have busted an extensive network of organised criminal gangs who cold-call UK investors and trick them into buying worthless or nonexistent shares; 110 people, mostly British, were arrested on suspicion of money-laundering and fraud offences.
It’s the biggest crackdown to date on so-called boiler-room fraud and comes following a two-year investigation code named Operation Rico, jointly run by City of London police and Spain’s Policia National. The investigation culminated last [...]
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