Wednesday, 28 January 2009
Six held over 'biggest fraud in history of stock market'
Martin Bentham, Home Affairs Editor, Evening Standard
28.01.09
SIX men suspected of involvement in one of the biggest frauds in British stock market history were arrested today in a joint operation by UK and Spanish police.
The five Spaniards and an Argentinian were held during raids in Madrid, Barcelona and the eastern Spanish town of Elche over their alleged role in a £365 million fraud at a bogus company listed on London's AIM market.
Spain's Interior Ministry said today: "The National Police have arrested six people in relation to a $600 million fraud on the UK stock market. Through complex stock market operations and through fraud, the suspects succeeded in increasing the values of shares in a company which did not have the capital to back it up. They later made themselves rich by the fraudulent sale of those shares."
28.01.09
SIX men suspected of involvement in one of the biggest frauds in British stock market history were arrested today in a joint operation by UK and Spanish police.
The five Spaniards and an Argentinian were held during raids in Madrid, Barcelona and the eastern Spanish town of Elche over their alleged role in a £365 million fraud at a bogus company listed on London's AIM market.
Spain's Interior Ministry said today: "The National Police have arrested six people in relation to a $600 million fraud on the UK stock market. Through complex stock market operations and through fraud, the suspects succeeded in increasing the values of shares in a company which did not have the capital to back it up. They later made themselves rich by the fraudulent sale of those shares."
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