Boiler room swindler bankrupted by FSA

Kahn had tried to get around his £3.7m liability through an Individual Voluntary Arrangement (IVA), but the regulator successfully applied for bankruptcy to reclaim the full amount from his estate. At the time, Kahn was in charge of Chesteroak Limited and Bingen Investments Limited, which illegally sold shares through boiler room scams. In January 2007, the regulator was able to freeze the assets of Kahn and his companies for dealing in shares without authorisation. In September last year, both Chesteroak and Bingen were liquidated. Kahn admitted liability for claims made by the FSA on b...