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22 August 2011| R v D and Others: Boiler Room Fraud Acquital | Back to News List


Sothwark Crown Court

Malletts Solicitors recently represented the only defendant acquitted after an intense four month trial at Southwark Crown Court. The case had been described by the Financial Services Authority as one of the largest boiler room scams ever to be uncovered. This case followed a lenghty investigation by authorities including the Financial Services Authority, City of London Police and Eurojust, a European based investigative crime body based in the Hague.

The case was an international and complex fraud involving a syndicate operating in six different countries defrauding an estimated 1,700 investors of approximately £28m in total.

The convicted co-defendants were sentenced to a record total of 19 years after being found guilty of conspiracy to defraud after acquiring, transferring and sellling millions of low value, worthless and sometimes non-existent shares to victims in the UK.

Our client, alleged to be the internal group accountant and director of a number of the companies involved in the fraud, maintained his innocence throughout.

Comment

This was an extremely difficult case both in its complexity and size. The unanimous not guilty verdict on all counts was a reflection not only of the innocence of our client but also of the meticulous work and preparation undertaken. It was crucial to demonstrate that D had no knowledge or suspicion at the material time that any offences were being committed.

Malletts Solicitors advised D throughout the investigation from the police station PACE interview to the conclusion of the matter and dealt with all associated POCA matters.

22 August 2011

R v D & Others:
Boiler Room Fraud Acquital

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