UK FSA Boiler Room Fraud case success
Thursday, June 16, 2011 at 8:34AM On 14 June 2011 the UK FSA reported that it had secured a criminal conviction for boiler room fraud against David Roger Griffiths Mason, who has been sentenced to two years in prison and disqualified from being a director for six years.
Mason pleaded guilty to 13 counts of carrying on a regulated activity without authorisation; one count of making false or misleading statements, promises or forecasts; and three counts of money laundering. The sentencing Judge, HHJ Rivlin QC said:
"I am satisfied that without your involvement this scheme could never have operated... I do believe the arrangements made by you were sophisticated... You caused distress, worry, frustration and in some cases serious disruption... You acted with blatant and I would say ruthless dishonesty which was thoroughly reprehensible."
A full detail of the case and related matters is available here.
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