Leader of $3.6 Million Boiler Room Scam Sentenced to 11 Years’ Imprisonment

[kreslik.news]

Michael Nascimento, the leader of a £2.8 million ($3.6 million) boiler room scam, has been sentenced to 11 years’ imprisonment today. In a separate prosecution, he was also sentenced to an additional two years, making his total sentence 13 years.

Nascimento’s sentence follows that of five other individuals that were all involved in the scam. As Finance Magnates reported, on September 5, 2018, Charanjit Sandhu, Hugh Edwards, Stuart Rea, Jeannine Lewis and Ryan Parker were sentenced to a total of 17.5 years’ imprisonment.

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The Financial Conduct Authority (FCA), which brought the ... (read more)