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Police give boiler room fraud crimes warning

Published on 4 Sep 2009 under category: legal

Police in Yorkshire have warned residents over an increase in fraud crimes in the region.

The Financial Investigation Unit of North Yorkshire Police has noticed a spike in boiler room fraud crimes.

According to the body, the national Operation Archway scheme has detected a sharp rise in young men and women being targeted by these.

Detective inspector Ian Willis commented that the perpetrators of these fraud crimes "do not care who you are or where you live, all they want is to take your money".

He added: "However, they should understand that if they commit a crime we will come and find them, wherever they might be living."

Boiler room frauds typically involve fake overseas brokers pressuring investors into purchasing worthless shares through cold calling.

In July, six men in the US were charged with being part of this type of crime which was worth $140 million (£85 million) and took place over an eight-year period.

If you require advice on Corporate Fraud please call us on +44 (0)20 7831 0101 and ask for Dan Hyde.