FSA shuts down illegal share scheme

Treadstone Corporation Limited was found to be cold calling investors and issuing false share certificates. The FSA was granted a permanent injunction against the firm and its sole director and owner, Thedfred Lemont Shepherd, has agreed not to take part in similar activities again. Between May and September 2006, agents at the firm were instructed to call investors and promote shares in a Finnish company, Tramigo Oy Limited. The firm then distributed false share certificates and pocketed the cash. The FSA found the company involved is genuine, but shares were sold for more than thei...