Four found guilty in £1.4m cold-calling investment scam

More than 300 victims

Hannah Godfrey
clock • 1 min read

A criminal prosecution brought by the FCA has led to four men being found guilty in relation to their roles in a cold-calling scam that cost more than 300 victims a combined £1.4m.

Mirza set up Symbiosis to provide "healthcare solutions", Bhandari acted as a corporate adviser to the firm and organised the selling of the shares and the Moore brothers were directly involved in cold-calling investors to sell the shares. The victims were promised large profits through the operation and expansion of a network of medical clinics in Dubai and elsewhere although the shares in the company were, in effect, worthless. The four defendants, who were found guilty of playing an instrumental role in misleading investors and helping to create a wholly misleading impression as to...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

What does 2026 hold for investment?

What does 2026 hold for investment?

‘The disruptors of yesterday are now the establishment’

Jen Frost
clock 17 December 2025 • 3 min read
FCA launches trio of crypto consultations as UK interest nears tipping point

FCA launches trio of crypto consultations as UK interest nears tipping point

Consumer protection and innovation

Patrick Brusnahan
clock 16 December 2025 • 2 min read
Cryptoasset legislation in UK to come into force in 2027

Cryptoasset legislation in UK to come into force in 2027

Consumer protection

Cristian Angeloni
clock 15 December 2025 • 1 min read