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FSA warns over suspected Sheffield United share scam

The FSA has issued a warning about a suspected scam targeting fans and shareholders of Sheffield United football club.

The regulator says it is aware of reports of a Japanese company called Sumitomo Financial Corporation which is approaching people who have invested in Sheffield United plc, the holding group of Sheffield United football club. Sumitomo attempts to buy shares from Sheffield United investors, but customers are required to pay an upfront fee.

FSA head of unauthorised business Jonathan Phelan says: “We strongly believe this is a scam and anybody that is approached by this firm, or any other firm with a similar offer, should be very wary indeed. Calls out of the blue that promise a fantastic return on investment are one of the key hallmarks of a scam.”

The FSA believes the company is imitating a legitimate firm called Sumitomo Mitsui Banking Corporation and Sumitomo Mitsui Financial Group Inc.

The regulator has previously highlighted similar scams involving Millwall football club and Birmingham City football club.

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Comments

There are 2 comments at the moment, we would love to hear your opinion too.

  1. And how is this being communicated to the public?

  2. There’s been a similar scam recently where fans of Sheffield United have been offered so-called “season tickets” which supposedly entitle them to go and watch some football at Bramall Lane. The FA has warned that the “tickets” are completely worthless and anyone duped into buying a ticket and going to Bramall Lane is highly unlikely to see any football at all.

    (This joke courtesy of and (C) Juvenal’s Big Book Of Harpastum Banter, 94 AD.)

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