Boiler Room Fraud Solicitors UK
Boiler room fraud is fraud which involves sales-people cold-calling individuals using high-pressure tactics to persuade them into buying shares in speculative or fraudulent investment 'opportunities'.
Typically, the boiler rooms are based abroad, and often target the elderly and foreigners living within the UK. Since the 2000s, boiler room fraud has been pursued with vigour by the police due to the escalating number of cases.
If you or someone you know has been accused of committing boiler room fraud, we recommend that you contact our dedicated team of boiler room fraud defence lawyers immediately to discuss your case.
We understand that being accused of boiler room fraud can be extremely stressful, particularly given the complexity of this area of law. For that reason, our dedicated team of expert professionals are available to discuss your case.
We are available 24 hours a day, 7 days a week, and our boiler room defence solicitors are conscientiously committed to providing high quality representation for every client.
Whether you have been accused, charged, or are under investigation, contact us today to find out what your next steps should be.
Our team of fraud solicitors at Draycott Browne have a wealth of experience defending high profile complex cases. We defend our clients with skill, vigour and meticulous attention to detail, and we could help you defend your case too. Call us today on +44 (0)161 228 2244.
What is boiler room fraud?
Boiler room fraud schemes vary in style and complexity.
What types of actions are considered to be indicative of boiler room fraud?
Usually, boiler room schemes involve offering people the opportunity to buy shares in an apparently up-and-coming company that is on the verge of making a fortune in industries such as oil, gold, or fuel. The shares being offered may be worthless or non-existant. Tactics used to convince the prospective buyer include making promises of high returns with no risk, and claims of insider information.
The companies typically target older people, encouraging them to invest their life savings, their retirement funds, or even their property in exchange for shares which never appear. After giving the money, the investor may be given a legitimate-looking certificate which suggests that their investment is credible and protected by the company.
Alternatively, instead of selling shares, the scheme could be set up to sell development land. The investors may be told that a piece of land will soon be granted planning permission that will increase its value significantly, leading to them being encouraged by the salesperson to invest in the land or the development plan in return for a profit or share in the development at the end.
As an experienced boiler fraud defence team, our lawyers have experience handling a wide range of different boiler room schemes. If you have been accused of involvement in a boiler type scheme, rest assured that our experienced and diligent team of boiler fraud defence lawyers will have the expertise required to help and support you.
Who prosecutes boiler room fraud?
The UK government takes boiler room fraud very seriously. Since the financial crisis, when the banks were forced to spend billions bailing out banks, the government has been keen to arrest any form of financial malpractice that it comes across. When bringing a case of boiler room fraud, the government will not hesitate to prosecute any individual found to making false advertisement and sales, regardless of who they are.
Given the seriousness of the charge and the government's relentless prosecution of those suspected of committing such fraud, it is natural to feel anxious, stressed, and frightened if you or someone you know has been charged with boiler room fraud. It is natural that you will be worried about what the outcome of any potential investigation might be. As experienced boiler fraud defence lawyers, we understand how daunting being involved in a boiler room fraud case can be, which is why we are on hand 24/7 to guide you through the process and, if necessary, build a defence that is tailored to you.
We are aware that, in many cases, defendants accused of being involved in selling boiler room fraud deals have been employed by seemingly reputable companies, leaving them under the impression that the job they are undertaking is entirely legal. Such people are often unaware that the investments they are selling are fake or fraudulent. Alternatively, individuals may be accused of the crime without knowingly having committed any wrongdoing. For such people, accusations of boiler room fraud can be extremely surprising and difficult to process.
Whatever the circumstances of your case, we are here to help. Our boiler room defence lawyers are trained and experienced in the field of boiler room defence and are on hand to help you mount a bespoke defence that is built on our knowledge and expertise and uniquely tailored to your bespoke needs.
What is a boiler room company?
In boiler room fraud, the boiler room is usually a company that has taking on the identify of a firm that is legitimately licensed to sell shares or offer investment advice to individuals. Online, the company will typically have a professionally produced business website that will convincingly promote their activities as being completely legal and legitimate. High-quality brochures may also be produced and distributed to potential clients.
Often, the company will portray themselves as being on the cusp of an impressive financial breakthrough in one of the world's major financial markets, such as the oil industry. Investors were be encouraged to buy shares in the company so that they may partake in the money that the company says it will eventually reap. In most cases, however, the outcome will not be as expected by the investor, and they will typically end up losing most, if not all, of the money that they injected into the scheme.
How do the boiler room companies convince their investors?
As well as producing professionally designed and convincing online architecture and physical brochures, the companies will typically employ high-pressure salespeople who will be tasked with convincing potential investors of the amazing financial gains that their company is apparently on course to make, and persuasively encouraging them to invest in it.
The sales pitch delivered is typically engaging, ambitious, and full of promises, with the sale person pressurising the individual on the other end of the line to invest their money quickly or lose the opportunity to be part of the company's fortune. In many cases, the salespeople themselves are unaware that the company is not promoting a genuine opportunity to make money.
Research into boiler room schemes has found that, on average, investors typically use around £20,000.
How is boiler room fraud prosecuted?
Boiler room fraud is typically prosecuted as either conspiracy to defraud or money laundering.
Due to the serious nature of the charges that are usually brought against those suspected of committing boiler room fraud, the onus is on the prosecution to prove, beyond reasonable doubt, that the scheme was a boiler room scheme, and that the individual(s) accused knew of the company’s illegal and fraudulent nature. As an experience boiler room fraud defence team, we have been involved in many prosecution cases, and understand how daunting, stressful, and complicated the process can seem.
If you are worried about being prosecuted for boiler room fraud, contact us immediately to discuss your case. We can liaise with the prosecution, looking over the evidence they have and helping to build a defence.
Which members of the company are typically accused?
In most cases, those accused typically endeavour to prove that they have been honestly and transparently employed by a genuine company. Many employees are drawn into boiler companies by the professional and legitimate-looking websites and brochures that are produced by the company and are further enticed by the performance-related pay.
In some cases, even the IT and marketing individuals behind the company's image are unaware of its fraudulent activity. Our experience with boiler room fraud cases has shown us that boiler room companies typically present themselves in a convincingly professional manner, leaving defendants unaware that they have been involved in illegitimate activities.
Having worked with an array of boiler room defendants, we understand how convincing boiler room companies can be. If you have been unintentionally involved in a boiler room scheme, you should contact a member of our team as soon as possible to begin building your bespoke defence.
Members of staff are typically tasked with undertaking tasks which are crucial for the boiler room to operate. For example, they may be tasked with producing high-quality websites that promote the company as a legitimate investment agency.
While they may undertake this role in ignorance of the company's true nature, their close proximity to the coordinators and owners of the boiler room, who will give the orders of what to produce and how to market, could put them at risk of prosecution and subsequently in need of an experienced, dedicated and diligence defence.
If you have been a salesperson and think you may have been involved in a boiler room fraud, either knowingly or unknowingly, it’s important that you pursue legal advice as soon as possible.
What should I do if I have been accused of involvement?
If you have been accused of being involved in a boiler room company, perhaps as an unwitting employee, it is normal to feel frightened of what will happen next. As experts in the area of boiler room defence law, we strongly encourage you to do nothing until you have contacted one of our specialist fraud defence lawyers and sought advice regarding your case.
What happens if I am investigated?
If you are set to be investigated on suspicion of boiler room fraud, the police will contact you. In the first instance, you may be invited into the police station for a conversation with the police, or you may be arrested and charged. It is vitally important that you do not engage with any police enquiries, conversations, or investigations until you have contacted us and spoken with one of our boiler defence lawyers. Police interviews can be extremely complicated, tiring, and stressful affairs, and it is likely that the police will be searching for evidence to use to incriminate you from the moment the interview begins. Given the seriousness is therefore imperative that you have sound legal representation before you engage with any formal interviews or seemingly informal conversations with the police.
Your Draycott Browne boiler room fraud lawyer will be able to counsel you through any police interviews you may be expected to attend, helping you to responds in a way that is appropriate for your defence.
Because many boiler room companies are established overseas, depending on where the boiler room is suspected of being located, the prosecutors overseeing the investigation may be helped by agencies such as Europol, or anti-money laundering units from other countries across the world.
Hearing that other agencies are involved in your case can cause additional stress, but your Draycott Browne defence lawyer will be able to explain to you the purpose of each agency, and how you should respond to it.
Could I be imprisoned if found guilty?
Boiler room fraud is a serious offence, and it does carry a potential prison sentence. Whether or not you are imprisoned will depend on the role the prosecution state you played in the fraud, and the extent to which you were aware that the business activities you were undertaking were illegal or fraudulent.
How long could I be sentenced to?
If you are found guilty, the sentence length may vary from a suspended sentence to five years' imprisonment. Given the severity of the charge and the prospect of imprisonment, it is crucial that you contact a member of our team as soon as possible to discuss your case and begin to build a bespoke defence that will hopefully either eliminate the prospect of imprisonment or reduce the sentence you are likely to be given. While we work diligently to utilise our experience of past boiler-room cases and promote a defence geared at securing the most favourable outcome, we will also strive to prepare you for a worst-case scenario.
Could any mitigating factors be considered?
Sentences are handed on an individual basis and, as such, the court will examine the details of your case very carefully when handing out your sentence to determine a length that is appropriate to you. The judge will examine your role in the crime and consider, at length, the extent to which you were aware of the fraud that was taking place around you, or through you. Your sentence is likely to be reduced if it can be proven that you had no knowledge of the illegality of either the company itself, or the actions they were carrying out. If you think there are mitigating factors that could help your defence, contact a member of our team urgently to find out if they can be used within a defence.
What will happen when I seek legal advice from Draycott Browne?
Given the complexity and severity of boiler room fraud, it is imperative that you contact a member of our team as soon as possible if you or someone you know has been accused of engaging in boiler room fraud.
Over the years, our experienced boiler room defence lawyers have successfully defended a number of boiler room fraud cases, meaning we are well versed in the complexities of this area of the law and are well equipped with the experience and professionalism required to help you mount a successful defence.
Contact a member of our team today to begin the discussion about your case and receive first-class legal counsel from a specialist member of our renowned boiler room defence team.
If you are under investigation for insider trading, contact our specialist criminal defence lawyers for advice today. Our Fraud Lawyers have significant expertise in these cases and will be able to provide you with the best-possible advice and support.
We take great pride in our dedication and professionalism. We are relentless in the pursuit of achieving the best result possible for all of our clients and will continuously work hard on your behalf with an attention to detail and tenacity that is second to none.
We have over 25 years of experience in this area of law. Our track record in even the most complex and sophisticated of cases shows that you’ll have the best possible chance of a successful outcome to the challenge you are facing.
Draycott Browne is one of the UK's top criminal defence law firms. We regularly provide specialist criminal defence representation in cases involving insider trading to clients in Manchester, Liverpool, London, Birmingham and throughout the whole of England and Wales. When facing serious consequences, trust in Draycott Browne. You cannot afford to settle for anything less.
We are available 24 hours a day, 7 days a week, with solicitors committed to providing first-class representation for every client. If you or somebody you know has been arrested and needs expert legal representation, call Draycott Browne today on +44 (0)161 228 2244