Investment Forum - New thread, old topic (Scams)
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raysor, Feb 04 2012, 09:52
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Started by raysor Feb 24 2010, 09:45
Feb 24 2010, 09:45
Just read this from FSA. Very unusual result wouldn't you agree? And the money a drop in the ocean (but still most welcomed by the victims, I suspect!)
Seems a rare case of the villains being copped and I believe this scam was organised in the UK and they used UK Banks which is very rare (and stupid).
23 February 2010
The Financial Services Authority (FSA) has recovered approximately £270,000 as a result of action taken against companies involved in a share fraud activity.
This figure is believed to be the full amount invested by victims and it will be repaid to them in full.
Members of the public were cold-called from overseas by individuals saying that they worked for the following brokers: Rothman Capital; Bishop Capital; Bernam Shore; and Investor Relations Corp, and encouraged to buy shares in a company called Eduvest Plc with the promise of a significant return on their investment. They were instructed to make payment into a UK bank account; however the shares were worthless.
The investigation is ongoing.
Margaret Cole, the FSA's director of enforcement and financial crime, said:
"We are extremely pleased to be able to recover and return money to investors who have been persuaded to hand over their money as part of a share fraud scam. Such good news is rare for victims who deal with unauthorised firms, as the money usually disappears without a trace."
Seems a rare case of the villains being copped and I believe this scam was organised in the UK and they used UK Banks which is very rare (and stupid).
23 February 2010
The Financial Services Authority (FSA) has recovered approximately £270,000 as a result of action taken against companies involved in a share fraud activity.
This figure is believed to be the full amount invested by victims and it will be repaid to them in full.
Members of the public were cold-called from overseas by individuals saying that they worked for the following brokers: Rothman Capital; Bishop Capital; Bernam Shore; and Investor Relations Corp, and encouraged to buy shares in a company called Eduvest Plc with the promise of a significant return on their investment. They were instructed to make payment into a UK bank account; however the shares were worthless.
The investigation is ongoing.
Margaret Cole, the FSA's director of enforcement and financial crime, said:
"We are extremely pleased to be able to recover and return money to investors who have been persuaded to hand over their money as part of a share fraud scam. Such good news is rare for victims who deal with unauthorised firms, as the money usually disappears without a trace."
Mar 22 2010, 08:55
Dear Raysor,
what is the amount compared to what some scams cheat people in total? Just compare it to the estimates of how much are people in UK itself are cheated per year, not to even start comparing it with estimates around the globe!
You might be interested to study following following link:
http://hitthemback.community.officelive.com/default.aspx
regards
hitthemback
what is the amount compared to what some scams cheat people in total? Just compare it to the estimates of how much are people in UK itself are cheated per year, not to even start comparing it with estimates around the globe!
You might be interested to study following following link:
http://hitthemback.community.officelive.com/default.aspx
regards
hitthemback