A man has been sentenced to 13 years in prison, after he was found guilty of conspiring to con dozens of investors out of millions of pounds. Michael Nascimento, ran a call centre where investors were offered shares in fraudulent companies. But instead, the court heard, how he spent some of the proceeds of his crimes on private school tuition, Arsenal season tickets and expensive trips.
For four years, Nascimento ran a ‘Boiler Room’, another name for a high pressure call centre, where investors, many of whom were elderly and vulnerable, buy shares in companies with plausible sounding names. … Read more