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Seven held in boiler room fraud swoop
06.05.09
City of London police continued their clampdown on "boiler rooms", arresting seven people in the South of England accused of taking £28 million from investors.
Two years ago, police identified about 150 such operations using high-pressure and illegal sales tactics to con people into buying shares in fake companies.
Premises in Surrey, West Sussex, London and Hertfordshire were raided, with six men and one woman arrested.
Police say the methods used by the fraudsters often come direct from the 2000 film Boiler Room, which starred Ben Affleck and Vin Diesel.
