Fraudsters steal £10m in City boiler room
Matthew Noad and Clive Griston’s victims included a blind 89-year-old man, and an 87-year-old retired teacher, who both lost almost £100,000 of their savings.
The scammers have been jailed for nearly five years after an investigation by the City of London Police.
Between 2005 and 2010 Noad and Griston persuaded hundreds of investors to buy land with high-pressure phone sales techniques.
They conned them into thinking they would make returns of several hundred percent from sites across the UK ‘ripe for housing development’.