Specialist London Solicitors in Boiler Room Fraud Cases
At MFI Law Limited we have the expertise in representing clients charged with fraud cases. Our London Criminal Solicitors are available to represent clients at London Police Stations, Magistrates' and Crown Courts throughout the country.
Share scams are often run from ‘boiler rooms’ where fraudsters cold-call investors offering them worthless, overpriced or even non‐existent shares. While they promise high returns, those who invest usually end up losing their money.
Boiler rooms use increasingly sophisticated tactics to approach investors offering to buy or sell shares in a way that they say will give investors a huge return. But in the end, victims are often left out of pocket, sometimes losing all of their savings or even their family home.
The individuals involved in committing such offences are professional and highly convincing. In recent years, police in this country have investigated many boiler room frauds with victims investing their savings into shares for oil, gas, petrol and gold, along with big company names.
The amounts that are invested into non‐existent shares can vary from thousands of pounds to over a million pounds. In such cases, bogus stockbrokers can create sophisticated websites to persuade victims that the investment companies they are dealing with are genuine. In other cases, fraudsters have been known to provide endorsed paperwork such as share certificates to make the investments seem credible.
Often people can be accused of this type of fraud when they themselves have been employed by the real fraudsters without knowing about the fraud that is being carried out.