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Arrest made as FSA clamps down on share fraud

The FSA has taken action against two individuals and seven businesses suspected of involvement in boiler room share fraud activity and has served injunctions freezing assets worth up to £350,000.

With the assistance of the City of London Police, the FSA executed search warrants on three premises in London and Southend and one individual was arrested.  

The FSA also served injunctions freezing assets up to £350,000 and restraining the unauthorised activities of the businesses and individuals involved.

The FSA investigation centres on two individuals who are suspected of profiting directly from the activities of a number of suspected overseas boiler rooms.  

No-one has been charged at this stage in connection with the FSA’s investigation, which it says is on-going.


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There are 3 comments at the moment, we would love to hear your opinion too.

  1. Ah, we can sleep easy in our beds knowing that those macho boys at the FSA are on every case.
    Makes you glad to pay the levy to keep them all going and their previous record speaks for itself-in fact it speaks volumes!

  2. Pissing in the wind as usual – why dont they spend their time & efforts chasing the ‘Big Boys’ – who are the real crooks!

    Take the ‘bent’ bankers for instance and the Credit Card loan sharks tho are still charging extortionate interest rates for credit cards when the BofE’s base rate is 0.5% …

  3. F-Pack Wooden Spoon Team 7th November 2009 at 5:30 pm

    Shutting the gate after the horse has bolted comes to mind.

    Also like Mr Anonymous said pissing in the wind as well!

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