Seven arrested in £28m share scam probe

Financial investigators swooped on a handful of properties in a major operation in the south east of England leading to the arrest of six males and a female suspected of 'boiler room' activities. The investigation, conducted with assistance from Eurojust, Europol, the anti-money laundering unit of the Malta police and several European law enforcement agencies, focuses on share fraud activity in the UK and Europe. Estimated to have taken approximately £28m of victims' money, the scam works by fake stockbrokers typically cold-calling victims and persuading them to buy shares in worthless,...