FSA secures £1m for boiler room victims

The regulator has obtained a court order demanding Mr Aniz Kassamali Dhanji Manji to return £1m to investors, whilst Mr Suresh Maganlal Bhowan will pay £17,233. Manji was the owner of Bayshore Nominees whilst Bhowan was the sole director. Investors were encouraged to buy worthless shares during 'cold calls' from unauthorised share sellers, otherwise known as boiler rooms, Gatemore Securities and Enterprise Analytics Incorporated. Bayshore, which held the shares, sent out confirmation notes requiring payment from the investors and arranged the transfer of the shares to the investors. Ba...