Jail for eight fraudsters over £700k share scam

Between November 2009 and August 2010 the eight men assisted in the running of a boiler room which offered stock market shares at discounted prices and sought after shares that were not actually available to buy by the general public, according to City of London police. The gang worked for a boiler room that used the names of genuine European companies to fool investors into buying shares that did not exist. The victims were led to believe that these were legitimate firms based in the UK approved by the Financial Services Authority, the regulator at the time. In reality they were m...