Fraudster duo jailed over £2.5m boiler room investment scam

Mark Battersby
clock • 2 min read

Two men have been imprisoned for defrauding multiple elderly victims out of £2,469,620.48 in a boiler room investment fraud. David Shivmangal, 48, and Glenn Ward, 52, were found guilty at Southwark Crown Court on 15 December 2021 of fraud and money laundering offences. They were sentenced today to three years and nine months and three years respectively. The defendants were part of an organised criminal group which has been sentenced after a series of four separate trials, involving two separate frauds. One arose from the Capitol Finance Group which sold investments in a non-existe...

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