Gibraltar-based front company, Almena Properties Pensioners conned in shares scam
The Press Association: Pensioners conned in shares scam: "A gang of fraudsters, including two from London, conned pensioners into handing over thousands of pounds for fake or useless shares by telling them they were investing in property near the 2012 Olympics site, a court heard.
Adrian Davison, 43, masterminded the scams in which elderly people were cold called at home and pressurised into buying shares in what they were told was a lucrative portfolio in Stratford.
Southwark Crown Court heard the gang sent their victims brochures and told them to transfer money to a Gibraltar-based front company, Almena Properties, or to a London address owned by another member of the crew, 71-year-old Andrew Bingham.
A total of £286,000 was swindled from unsuspecting victims between August 2006 and March 2007.
Anuja Dhir QC, prosecuting, said: 'This case concerns a number of boiler room frauds organised by Mr Davison. They were frauds in which pressure was put on the victims, most of whom were retired individuals.'"
Adrian Davison, 43, masterminded the scams in which elderly people were cold called at home and pressurised into buying shares in what they were told was a lucrative portfolio in Stratford.
Southwark Crown Court heard the gang sent their victims brochures and told them to transfer money to a Gibraltar-based front company, Almena Properties, or to a London address owned by another member of the crew, 71-year-old Andrew Bingham.
A total of £286,000 was swindled from unsuspecting victims between August 2006 and March 2007.
Anuja Dhir QC, prosecuting, said: 'This case concerns a number of boiler room frauds organised by Mr Davison. They were frauds in which pressure was put on the victims, most of whom were retired individuals.'"
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