Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Boiler room trio arrested in FCA investigation

Boiler room trio arrested in FCA investigation

Three people have been arrested as part of a boiler room investigation led Financial Conduct Authority (FCA).

The individuals, two men aged 32 and 41 and one woman aged 32, were arrested by City of London Police on Tuesday morning after it executed search warrants at six addresses in Kent, Essex, and Bedfordshire.

The arrests are not linked to any other ongoing investigation, according to the FCA.

No further details can be confirmed at this time and no individuals have been charged.

This follows a move by the FCA to shut down a suspected boiler room associated with firm First Capital Wealth by freezing the firm's assets in November.

In October last year, eight investment fraudsters who tricked 73 people out of £700,000 were jailed for up to six years at Southwark Crown Court in October, while three British men who conned investors out of £80 million were jailed for a combined 43 years, after sentencing at a Florida court in July.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Neil Gregson: gold is prettiest in ugly contest

Neil Gregson: gold is prettiest in ugly contest

The JP Morgan Natural Resource fund manager talks about the prospects for gold with plenty of uncertainty in the global economy.

Brewin's Gutteridge & Foster talk property with Standard Life's Baggaley

Brewin's Gutteridge & Foster talk property with Standard Life's Baggaley

Gutteridge and Foster discuss UK commercial property with Jason Baggaley, manager of the Standard Life Property Income investment trust

Brewin's Gutteridge asks Odey's Tim Bond two tough questions

Brewin's Gutteridge asks Odey's Tim Bond two tough questions

Gutteridge puts the heat on Odey's asset allocation maestro with a couple of tough questions.

Your Business: Cover Star Club

Profile: Creechurch Capital’s CEO on going the extra mile in a crowded market

Profile: Creechurch Capital’s CEO on going the extra mile in a crowded market

Growing a business is the main aim of many company owners but managing that growth in a controlled way is just as important

Wealth Manager on Twitter