A BOILER room investigation has charged seven people with fraud over an alleged 100 million euro scam based in Spain.
The group – comprising of five men and two women – are accused of conspiring to defraud UK investors from their Spanish location.
Daniel Gooding , also know as Tresadern, Shaun Rumsey, Jon Emery, Philip Morris, Ian Hughes, Emma Farmer and Michelle Coleman are all due to appear at City of London Magistrates’ Court on 19 March 2010.
“I am very pleased we have charged another group of people for operating a boiler room scam.”
Serious Fraud Office (SFO) Director, Richard Alderman, said: “I am very pleased we have charged another group of people for operating a boiler room scam.”
An investigation launched in 2007 by the Serious Fraud Office (SFO) looked into the supposed brokerage companies that were set up in Spain between 2004 and 2007.
The shares sold to unsuspecting Britons in these companies were allegedly worthless.
The groups known as Tresadern & Partners SL, Pricestone Group SL and Anderson McCormack SL sold the shares to British investors.
However, none of the companies obtained authorisation from the FSA or its Spanish equivalent, the Comision Nacional del Mercado de Valores.
Both regulatory authorities have now posted warnings in relation to each of the companies.
Alderman added: “It is important that people never underestimate the lengths fraudsters will go to appear convincing.
“I would always urge people to do their research before they make any investment.”
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