Operation Slick

Rustem Guardian are representing a one of 6 defendants in a £30m boiler room fraud whereby companies controlled by the defendants are alleged to have sought investment from hundreds of potential victims in return for (dud) shares. The sellers of the shares were unregulated by the FSA and purported to be selling from abroad to avoid FSA regulation. The investments were disguised by passing it through a number of accounts and companies, usually ending in off-shore accounts in order for the perpetrators to benefit.

This is one of the largest frauds of this type to be prosecuted by the FSA as part of an operation lasting several years.