Police in Spain and Britain arrest 110 in swoop on ‘boiler room’ financial fraudsters


LONDON – Police have arrested 110 people in Britain, Spain, Serbia and the United States in a swoop targeting financial fraudsters.

Police raided 35 properties in the four countries in connection with “boiler room” gangs who dupe victims into buying worthless or nonexistent shares.

Of the arrests, 84 were in Spain, 20 in Britain, four in Serbia and two in the U.S. Most were on suspicion of money laundering and fraud.

About 300 police in Spain and 40 in London carried out raids in Barcelona, Madrid, Marbella and London.

City of London Police Commander Steve Head said the suspects had stolen millions of pounds from more than 1,000 victims, many of them British retirees.

The raids earlier this week were made public Friday after a Spanish judge lifted a reporting ban.

2 comments on “Police in Spain and Britain arrest 110 in swoop on ‘boiler room’ financial fraudsters

  1. Quite cool Mr. Elliot. I am starved for missives from the mailbox. I’ll admit it, I even open junk mail. (Hey, maybe it’s a check with a lot of zeros at the end.) Such a sad existence for me when my just one a small rush of importance is ripping open junk mail. Bills can wait, so a real letter sounds excellent. Will subscribe.Cheers, Iris


  2. Oh no! I are unable to make it and I’m so sad! I really want to go although the girls are throwing me a going away party that night at Angie’s. And that i need so much clothes for my new job. So bummed. In any case, have a blast and i would go when using the dress its fab! XOXO