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.