The FSA has been granted a permanent injunction preventing Treadstone Corporation Limited (Treadstone) from illegally promoting and selling shares to UK investors. Thedfred Lemont Shepherd, the sole director and owner of Treadstone, has also agreed not to take part in the same activities.
From May to September 2006, Treadstone and Mr Shepherd instructed agents to cold call UK investors and encourage them to buy shares in a Finnish company, Tramigo Oy Limited (Tramigo). After which, Treadstone issued false share certificates to investors and retained and distributed the proceeds of sale. Although Tramigo is genuine, the shares were sold for more than their worth.
View FSA Press Release - FSA puts a stop to illegal UK based share scheme, 13 August 2008