Boiler Room Fraud Trial |Kangs Complex Fraud Solicitors
Kangs Solicitors are instructed by one of a number of defendants in a boiler room fraud case. The trial is due to commence at Southwark Crown Court in early January 2017.
The Crown alleges that two companies were incorporated and traded with the sole intent to defraud people by offering an opportunity to invest in Bordeaux fine wine, which did not exist.
Investors were persuaded to invest in the wine which was to be stored in barrels in a Bonded Warehouse for bottling at a much later date.
Although the investors were provided with a notice of ownership in return for their payment, the Prosecution alleges that the wine did not exist and the money paid over was used by the defendants for their personal benefit.
The Crown contends that the defendants conspired to defraud those who produced their investment money by making false, misleading and dishonest representations about the value and existence of the wine and the execution of a clever and sophisticated fraud operated with considerable professionalism.
The trial is expected to last for up to two months.
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