FSA announced that three men have been sentenced to a total of 19 years in jail for boiler room fraud following a long-running and detailed investigation by FSA, the City of London Police and Eurojust. The men were convicted on four offences of conspiracy to defraud, which resulted in losses of £14 million. They controlled a syndicate of 16 boiler rooms that defrauded an estimated 1,700 UK investors of £27.5 million between 2003 and 2008. Many of the victims were elderly and, in some cases, suffering from serious illnesses. Tomas Wilmot, the ringleader, was sentenced to nine years in jail, while his sons Kevin and Christopher were sentenced to five years each. According to Tracey McDermott, FSA's Acting Director of Enforcement and Financial Crime: "These are significant verdicts. It signals another victory in our ongoing fight against boiler room fraud and unauthorised business more widely. This outcome reflects not only our continuing close and productive working relationship with other UK bodies but also shows the FSA working with European authorities, such as Eurojust, to go the extra mile to ensure perpetrators of these crimes can be brought to justice."  (Source: Press Release on Boiler Room Scam Prosecutions.)