Seven arrested for boiler room scam

Premises in Surrey, West Sussex, London and Hertfordshire were searched by the FSA in cooperation with City of London Police. The searches have resulted in the arrest of six men and one woman in the south of England. The investigation is the result of a fraud crackdown across the EU, with Eurojust, Europol and Malta Police all providing assistance to the FSA and City of London Police. Recently, the FSA has taken serious action on boiler room fraud, where investors are approached to buy shares that do not exist or which the fraudsters do not own. In February, a firm of UK solicitors ...