750 targeted in fake shares con

THE City watchdog yesterday warned 1,000 people that their names were on a list being used by fraudsters trying to sell fake shares.

The consumers are being contacted after the Financial Services Authority and City of London Police found their personal details on a master list being used by criminals involved in so-called boiler-room scams.

The list contained the names and telephone numbers of about 750 people.

Boiler-room scams involve fraudsters using high pressure sales tactics to con investors into buying overpriced or even non-existent shares.

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