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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.

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Profile: The opportunity set that attracted Brett Williams to wealth management

Profile: The opportunity set that attracted Brett Williams to wealth management

Brett Williams is best known for helping to build some of the biggest platforms in the IFA market.He made the move over to wealth management to head SEI’s UK business earlier this year in the belief that this is where the best opportunities now lie.

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