View the article online at http://citywire.co.uk/money/article/a603944
'Lord of Fraud’ jailed for £5m boiler room scam
Four fraudsters who masterminded a £5 million boiler room fraud have been handed a combined 20 year jail sentence.
A career criminal dubbed ‘the Lord of Fraud’ who swindled hundreds of pensioners out of over £5 million has been jailed for seven years for running a boiler room scam.
Self-styled Lord Hugh Rodley, who is already serving an eight-year sentence for plotting to steal £229million from Japan’s Sumitomo Mitsui Banking Corporation, was given a further jail sentence for his part in a boiler room scam between 2004 and 2007.
Rodley, of Church End near Tewkesbury, Gloucestershire, who bought his title in 1986 at auction, was sentenced at Southwark crown court alongside Julian Silver, 43; Adam Corbett, 31; Sonny Willis, 28 and Phillip Dennett, 41, to a combined 20 year sentence.
The men were sentenced yesterday, after being convicted of conning at least 600 investors out around £5 million.
City of London Police said the gang had pressured people into buying worthless shares in a clone company of World Aqua Tech International, along with the European Land Development Agency, Art IT and Mediatel.
Matt Bradford from City of London Police said: 'This gang went to great lengths to secure a deal, bombarding hundreds of elderly and vulnerable people with phone calls and even turning up at an England cricket match in the pursuit of peddling yet more of their worthless shares.'
'It took forensic investigation to unravel the networks and systems that facilitated this fraud and expose the men responsible, with the result sending out a clear warning to anyone thinking of setting up their own boiler room fraud in the UK.'
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In association with Aberdeen Asset Management
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by Michelle McGagh on Mar 11, 2014 at 14:49