On December 7th, the Financial Services Authority announced that the Southwark Crown Court has ordered Michael McInerney to pay £320,882 for his role in a significant stock fraud against investors. McInerney acted as a banker for fraudulent share sales orchestrated by jailed boiler room operators Tomas, Kevin and Christopher Wilmot. The Wilmots controlled a syndicate that defrauded an estimated 1,700 investors out of £27.5 million. FSA Press Release.
