View the article online at http://citywire.co.uk/wealth-manager/article/a754830
Nine jailed in UK's biggest boiler room fraud
by Dylan Lobo on Jun 05, 2014 at 08:15
Shaun David Rumsey, aged 33, Essex - five-year sentence
Philip Morris, aged 38, Kent - five-year sentence
Jon Steven Frank Emery, aged 36, Essex - five-year sentence
Ian Hughes, aged 34, Essex - four-year sentence
Emma Farmer, aged 41, Essex - three-year sentence
SFO Director David Green CB QC said in a statement: 'Over 1000 UK investors were defrauded by these criminals, who caused substantial financial damage and hardship. The victims were deliberately charmed, lied to and bullied, whatever it took to make them send their money to these criminals.
'The profits from this fraudulent scheme were used to fund lavish lifestyles featuring numerous overseas properties, wine collections, luxury yachts and private jet hire.'
He added: 'The convictions mark the culmination of seven years hard work by a dedicated team of investigators, lawyers and accountants at the SFO, and close work with other agencies.
'This case illustrates that key attributes required in an SFO investigation are determination and persistence, qualities necessary to follow the complex money flows and elaborate company structures in numerous jurisdictions.'
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