A BAD MAN HAS BEEN ARRESTED IN London for running one of those things called Boiler Rooms that people stuff with telephonists and try to use to sell people magic beans investments and shares in tartan paint.
This chap wasn't selling anything like that though, he and his boiler room were hyping up a virtual currency that was worthless in the real world, but a wonder investment when presented over the telephone.
The alleged boiler room was set up in Broad Street in the city, which, if you know London, is a place that you will recognise. It is alleged that the accused had a sales team working for him - here is our tip to the City of London Police - boiler rooms do need sales people, and they found enough punters to cream £160,000 in ill gotten gains out of the polite economy.
It is the City of London Police, or the CiLoPo that announced the arrest and its work that bagged the blighters. If they are blighters. The allegations are still just that. Nine reports about the company and its non existence cyber coin have been made to Fraud Action in the UK though, and there is no smoke without people smoking.
Detectives have been in touch with victims, and City of London Police Detective Inspector Mark Forster had a warning to anyone thinking of renting a premises and a fleet of easy to use phones and to anyone who thinks buying stuff when cold-called is a good thing to do.
"Investment fraudsters are still targeting people throughout the country and they employ aggressive sales tactics which are often used to pressurise unsuspecting victims into parting with large sums of money. These people often base themselves in the City as they believe having an address in a prestigious financial district will help to legitimise their fraud," he said as we put the phone down on a deal that had has up tempted.
"I urge anyone who is cold called and offered investment opportunities to simply put the phone down - a legitimate company will never cold call you and put you in a position where you need to make an investment on the spot."
If in doubt, don't answer the phone. Also, trust no one. µ
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