The FSA has obtained a court order requiring the owner and sole director of a UK company, Bayshore Nominees Limited to pay compensation to investors who were victims of a share scam operated by overseas entities. These entities (or boiler rooms) cold called investors to encourage them to buy worthless shares held by Bayshore. Investors made payment to Bayshore which then arranged for the share transfers, directing the money to other accounts and then off-shore (FSA press release - FSA secures over £1 million for victims of share scam , 9 February 2009)
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