Four men found guilty in a £1.4m cold-calling investment scam were each sentenced to several months in prison yesterday.
Between 2009 and 2014, each of the defendants played an instrumental role in misleading investors - many of whom were retired and vulnerable - through the creation of a "healthcare solutions" firm, Symbiosis. Samrat Bhandari, whom the judge at Southwark Crown Court described as "the prime mover" in the sale of shares, had his sentence adjourned. He offered to arrange funds to reimburse investors during this period, but the offer was subsequently withdrawn. He will be sentenced in late January and will remain in custody until that time. Muhammad Aleem Mirza was sentenced to 15 month...
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