Share scammers take £300K off two islanders
Saturday 17th April 2010, 2:29PM BST.
Detective Sergeant Andy Whitton with some of the worthless share certificates. (Picture by Steve Sarre, 0952671)
TWO local people have lost a total of £300,000 in share-selling scams this year.
The Guernsey Police Commercial Fraud Department has released details about the ‘boiler room’ scams.
Officers dealt last year with other local victims who had purchased non-existent gas, oil and other shares, losing an estimated £61,000.
A boiler room is a bogus stockbroking company run by a group of fraudsters and usually based overseas.
It contacts investors and pressures them into buying worthless shares.
The Commercial Fraud Department is working with staff at the American Embassy in London to investigate the crimes.
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