Slide background

    "Noted for the excellence of its white-collar defence practice"

    Chambers & Partners, 2014 edition

    Slide background

    "Outstanding financial crime defence practice"

    Chambers & Partners, 2014 edition

    Slide background

    "It’s a deluxe firm which pulls out all the stops for its clients"

    Chambers & Partners, 2014 edition

    Slide background

    "They are the market leaders for serious crime’"

    Chambers & Partners, 2014 edition

    Slide background

    "Kangs has an excellent reputation. They care about their clients and go the extra mile for them"

    Chambers & Partners, 2014 edition

    Slide background

    "Kangs Solicitors is a standout firm"

    Legal 500, 2014 edition

    Slide background

    "Kangs Solicitors is in the highest tier of firms"

    Legal 500, 2014 edition

    Slide background

    "Hamraj Kang is noted for his very sharp legal brain"

    Legal 500, 2014 edition

    Slide background

    "Kangs Solicitors fields a team of ‘technically able solicitors’
    and is well regarded for its serious crime and fraud work"

    Legal 500, 2014 edition

    Slide background

    "Hamraj Kang is a shrewd tactician and very experienced"

    Legal 500, 2013 edition

    Slide background

    "What the team is known for - handles an extensive array of criminal matters
    including murder, drugs and white-collar crime"

    Chambers & Partners 2013 edition

    Slide background

    "Adept at dealing with cases that have an international dimension"

    Chambers & Partners 2013 edition

    Boiler Room Frauds | FCA | Kangs Financial Fraud Solicitors

    Criminal Defence Solicitors | Vat & Tax SolicitorsNEWSBoiler Room Frauds | FCA | Kangs Financial Fraud Solicitors

    Sep

    15

    September 15 , 2017 | Posted by Kangs Solicitors |

    Boiler Room Frauds | FCA | Kangs Financial Fraud Solicitors

    Kangs Solicitors are regularly instructed by company directors and employees who find themselves being prosecuted by the Financial Conduct Authority (‘FCA’) for involvement in alleged boiler room scams.

    Frances Murray of Kangs Solicitors explains the nature of such fraud.

    What Is A Boiler Room Fraud? | Kangs Financial Fraud Advisory Team

    A “boiler room” fraud usually involves members of the public being ‘cold-called’ by telephone and induced  to purchase worthless, overpriced or non-existent shares in investment schemes by brokers, some of whom are not always aware that the alleged ‘investment opportunities’ are worthless.

    The ‘investment opportunities’ involve many commodities including land, diamonds, shares, bonds, wine, carbon credits, rare metals and other commodities.

    Generally, although there can be exceptions, the selling companies have no authorisation from the FCA to sell and tempt unsuspecting investors with the promise of massive and unrealistic ‘guaranteed’ returns, which are totally fictitious.

    More often than not investors raise the funds required from pensions and life savings to fund the investment.

    What Investment Activities Do The FCA Regulate? | Kangs Complex Fraud Team

    The following investment activities are regulated by the FCA under the Financial Services and Markets Act 2000:

    • advising on investments
    • advising on investments (except pension transfers/opt outs)
    • advising on pension transfers/opt outs
    • advising on P2P (peer-to-peer) agreements
    • arranging (bringing about) deals in investments
    • making arrangements with a view to transactions in investments
    • dealing in investments as agent
    • dealing in investments as principal
    • providing basic advice on stakeholder products
    • managing investments
    • safeguarding and administering investments
    • sending dematerialised instructions
    • causing dematerialised instructions to be sent
    • managing a UCITS (Undertakings for Collective investment in Transferable Securities)
    • acting as trustee or depositary of a UCITS
    • managing an AIF (Alternative Investment Fund)
    • acting as trustee or depositary of an AIF
    • managing an unauthorised AIF
    • acting as trustee or depositary of an unauthorised AIF
    • establishing, operating or winding up a collective investment scheme
    • establishing, operating or winding up a stakeholder pension scheme
    • establishing, operating or winding up a personal pension scheme
    • bidding in emissions auctions
    • operating a multilateral trading facility
    • operating an organised trading facility

    How We Can Help You? | Kangs Serious Fraud Solicitors

    We have frequently defended both directors and employees who were unaware that their activities were not sanctioned by the FCA or that the commodities being sold were worthless or did not exist.

    Cases of this nature require a legal team with specialist knowledge and extensive experience as they can often carry with them complex legal issues.

    If you are being investigated by the FCA or any other authority we are able to assist with the interview process, pre charge investigation and the post charge court proceedings.

    We can advise on FCA regulation and whether your business should be authorised by the FCA to trade in a particular area.

    Kangs Solicitors’ complex crime and regulatory team provides a national service.

    We have extensive experience of dealing with cases investigated and prosecuted by all the major prosecuting authorities such as the ARB, SFO, FCA, HMRC, CPS, Trading Standards, Environment Agency etc.

    Who Can I Contact For Help? | Kangs Criminal Defence Solicitors

    If you are an individual or a company, we are here to assist you manage your contact with the prosecuting authority and advise you on any criminal proceedings involving fraud and / or money laundering.

    Our team of solicitors has a proven track record of assisting many individual and businesses achieve the right result following these criminal proceedings.

    Our expert team of Solicitors can be contacted through the following:

    Hamraj Kang
    hkang@kangssolicitors.co.uk
    07976 258171020 7936 6396 | 0121 449 9888

    John Veale
    jveale@kangssolicitors.co.uk
    0121 449 9888 | 020 7936 6396

    Frances Murray
    fmurray@kangssolicitors.co.uk
    020 7936 6396 | 07989 521219 (24 hour emergency number)

    Print this page