Losses to investors are believed to exceed US$100 million.
Case Outline
The SFO launched the investigation in September 2007 which focused on the activities of a series of purported share brokerage companies based in Spain between 2003 and 2007. The companies, Tresadern & Partners SL, Pricestone Group SL and Anderson McCormack SL,sold shares to UK investors, largely in restricted American stock.
None of the companies obtained authorisation from the Financial Services Authority or its Spanish equivalent, the Comision Nacional del Mercado de Valores. The regulatory authorities have posted warnings in relation to each of the companies. It is alleged that the shares sold were in companies that had no actual or significant activity and had a falsely created market value, which resulted in over US$100 million in losses to UK investors.
The Defendants
- Daniel Gooding (aka Tresadern) DOB 28/12/1974 of Brentwood, Essex.
- Shaun Rumsey DOB 9/6/1980 of Dunmow, Essex.
- Jon Emery DOB 12/8/1977 of Romford, Essex.
- Philip Morris DOB 6/8/1975 of Biddenden, Kent.
- Ian Hughes DOB 1/8/1979 of Cardiff.
- Emma Farmer DOB 12/12/1972 of Brentwood, Essex.
- Michelle Coleman DOB 26/5/1951 of Brentwood, Essex.
Richard Alderman – Director of the Serious Fraud Office said:
“I am very pleased that we have charged another group of people for operating a boiler room scam. It is important that people never underestimate the lengths fraudsters will go to to appear convincing and I would always urge people to do their research before they make any investment.
"This is yet another excellent example of what can be achieved when law enforcement agencies work together and I would like to thank the City of London Police for their support during this investigation.”
Investors and witnesses
The Serious Fraud Office extends its thanks to the many investors and other witnesses who have provided information and statements which have helped with this investigation. A page has been set up on the Serious Fraud Office’s web site to provide updates on the progress of this case.
Any person who believes they may have had dealings with the above companies and who has not already contacted the SFO’s case team is invited to do so, preferably by e-mailing OSR@sfo.gsi.gov.uk.
Investors who believe they may be victims of the above alleged fraud and who had sent their investment funds to accounts of Solicitors firm Fox Hayes should contact the Financial Ombudsman Service (FOS) to see if they may be entitled to compensation. A link to their website can be found here or alternatively callers can phone 0300
123 9 123.
Investors should note that the investigating agencies have found that fraudsters often share the details of victims. A regular pattern is for investors to be contacted by a new entity that claims they can de-restrict, sell shares or otherwise mitigate loss, but for a fee. Investors should be careful to establish the truth of a contact like this as it may represent what is termed a “recovery fraud”, in order words a secondary advance fee scam.
If you have been contacted by a company seeking to sell you shares, you may wish to check the Financial Services Authority’s register of unauthorised firms using the
following link; www.fsa.gov.uk/pages/Doing/Regulated/Law/Alerts
People who believe they may have been a victim of this type of fraud, should contact the Serious Fraud Office or City of London Police using the contact details below:
Serious Fraud Office
intelligenceunit@sfo.gsi.gov.uk
+44 207 239 7388
