Boiler Room Fraud in UK. dmonds Marshall McMahon are a unique firm of solicitors and barristers, and we are experts in conducting fraud prosecutions. We commonly advise on boiler room frauds, which are presented to victims as a way to “get-rich-quick”. Boiler room fraud happens when a broker cold calls an unsuspecting victim and promises a high return on an investment they want the victim to make. In reality, the investment is worthless or overpriced and, once a victim invests, the broker will vanish with their investment. We have significant experience in ensuring that victims of this kind of fraud are financially compensated and that defendants are denied the proceeds of their crime.
Boiler room fraud is part of a wider crisis in the UK. In January 2021, the Royal United Services Institute (“RUSI”), a defence and security think tank, published a paper explaining that fraud in the UK has reached epidemic levels. According to this paper, fraud is the “volume crime of our time”. Notwithstanding increased media attention around the issue, the UK government’s fraud response continues to fail individuals and businesses. Budget cuts to the police and Crown Prosecution Service have limited the prioritisation of fraud, even as reports continue to rise. This state of affairs is at the heart of Edmond Marshall McMahon’s mission – as private prosecutors, we specialise in providing fraud victims with access to justice.
By way of background, although the majority of criminal prosecutions in England and Wales are conducted by public agencies, the right to pursue a private prosecution is expressly set out in statute. It is this power which Edmonds Marshall McMahon relies on to bring criminal proceedings on behalf of clients. We regularly implement private prosecution strategies to ensure that those who engage in boiler room fraud are held accountable, as well as achieving compensation for victims.
Whatever the fraud, please talk to us (free of charge) so we can advise you on what is possible. As specialist prosecutors, we have the knowledge and the resources that could make the difference between your recovering some, or indeed all, of your money.