Friday, 14 September 2018

Fraud ringleader Michael Nascimento jailed over 'boiler room' scam

A "boiler room" fraud ringleader has been sentenced to a total of 13 years in jail after being found guilty of conspiring with five others to con 170 investors out of £2.8m.

Michael Nascimento ran a call centre where investors were told their money would go into shares in businesses such as a property development in Madeira.

Instead he spent it on Arsenal tickets, school fees and a trip to Thorpe Park.

One victim was conned while coping with depression while her mother had cancer.

BBC      News.

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