Man
Jailed for 'Boiler Room Fraud'
A 40 year old man from Fradley, Staffordshire was jailed for
two and a half years by Nottingham Crown Court following a trial at Birmingham
Crown Court for his part in a 'boiler room fraud'.
Dean Capewell was the ring leader of a gang of fraudsters instrumental
in registering a company called 'Guardian Biometrics' with the intention
of defrauding members of the public. Two other members of the same gang
were imprisoned in 2003 for the same offence.
In total the police estimated that the gang defrauded £800,000 in
a four month period during 2003. The group obtained details of small businesses
and cold called their directors. Anyone who expressed an interest was
then subject of expensive and persistent literature mail shots. The offenders
also cloned a number of legitimate web sites offering shares in biometrics
to create their own biometrics company and site.
The investigation revealed at least 111 persons 'invested' money ranging
from a few thousand pounds to £50,000. They were provided with convincing
but worthless share certificates that appeared to have come from Delaware
, USA.
During the court case it was revealed that documents found at Capewell's
home address clearly linked him to the victims, the creation of a false
web site and distribution of false share certificates.
Acting Det Chief Insp Simon Wallis from the West Midlands Police Economic
Crime Team, which has been investigating the case, said: 'This fraud was
reliant on persuasive and persistent cold calling. There is no insurance
for this type of loss and it has a devastating effect. Thankfully this
type of professional criminal enterprise are few and far between, but
members of the public need to be aware that this can happen. We will now
look to strip these criminals of their illegal assests.
'Never commit yourself to this type of investment by telephone . Make
all the enquiries you can before committing. Consult professional authorities
such as the Financial Services Authority. Take call back details and use
them, visit premises and reassure yourself.
'Finally remember that if it sounds too good to be true, it probably is.'
