Five sentenced for cold-calling 'boiler room' gold scam

The scammers were handed sentences ranging from two-and-a-half years in prison to a year's community service. Following an investigation by BBC Radio 4's consumer affairs programme, ‘You and Yours', City of London Police started to look into the scammers, who posed as a company offering investments in gold. The men opened bank accounts to launder money from the scammed victims. Going by the company name Demmore Ltd, victims were cold-called and offered "huge profits" through leasing gold to corporate clients. Police suspected the boiler rooms had targeted around 180 victims, many elde...