Archive for the ‘United Kingdom’ Category

‘Recovery Firms’ Targeting British Investors

Friday, August 22nd, 2008

When a company goes into bankruptcy, shareholders lose everything.  Imagine their joyful surprise, therefore, when they get a call from a company offering to buy their worthless shares for an attractive price.  All the investor has to do is send in an administrative fee to “cover the transfer of ownership.”  As soon as the investor sends in the fee, the buyer disappears never to be heard from again.  (more…)

US Pair Accused of Scamming Elderly UK Residents Out of $70 Million

Monday, March 17th, 2008

Paul Robert Gunter, 58, and his daughter, Zibiah Joy Gunter, 25, have been charged with duping thousands of mainly elderly UK victims into investing more than $70 million in bogus corporations.  According to the complaint, the Gunter’s high jacked dormant shell companies, created a compelling story about each, and sold worthless stock in the companies through high pressure sales tactics to 15,000 elderly residents of the United Kingdom.  (more…)

UK’s FSA Secures Return for Defrauded Investors

Friday, March 7th, 2008

When investors in the UK lost money to a boiler room in Canada, the UK Financial Services Authority (FSA) worked with Canadian officials to freeze funds and return just north of £1 million to 153 residents of the UK.  The UK Press Association reports: (more…)

Ganger and White Guilty

Monday, February 25th, 2008

We posted last week on the trial of Alan White and Shinder Gangar, two English accountants accused of running a $200 million Ponzi scheme.  On Friday the jury hearing their case found both men guilty. David Robinson of the London Times reports:  (more…)

U.K. Case Shows that the Ponzi Epidemic Spans the Globe

Friday, February 15th, 2008

Two British accountants are awaiting a jury verdict in a case involving a Ponzi scheme that robbed more than 200 investors on both sides of theAtlantic of more than $50 million.  Their case reveals the scope of the Ponzi epidemic that plagues the globe. After initially claiming that the investigation by the U.K.’s Financial Services Authority was a case of the government run amok,  Shinder Gangar and Alan White claimed at trial that they truly believed that the scam was a legitimate investment.  (more…)

Beware the ‘Black Money’ Scam

Friday, January 25th, 2008

There is a new scam brewing across the pond.  If it hasn’t landed on U.S. shores yet, it soon will.  The scam goes by the name of the “Black Money Scam.”  Investors buy worthless pieces of dyed paper shaped like currency and having approximately the same weight and texture. 

This is London reports: (more…)




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