Hendon and Finchey Times 7.48 pm Wednesday 15th November 2006
COUPLE ADMIT £1m Scam
A couple from Friern Barnet conned people into investing more than £1 million into their dying business in order to fund a lavish lifestyle, which included renting a luxury mansion in Hadley Wood, a fraud trial heard this week. Tony and Danielle Rose convinced more than 100 people, including pensioners and widowers, to buy shares in a business which claimed to prevent crime and track cars. But the pair, from Hatley Close, used the money to buy a £24,000 holiday in St. Lucia, a stretch limousine, Jaguar and Toyota cars and a £2.5m property in the borough. Tony Rose, 57, faces jail after he admitted charges of conspiracy to defraud and money laundering. His wife, aged 50, was told she would be spared a custodial sentence after pleading guilty to a lesser charge of inducing an investor contrary to the Financial Services and Marketing Act.
Southwark Crown Court heard how Car Bug Trader Plc began carrying out what is known as a ´boiler room´ fraud, where worthless shares are sold, after forging links with a Spanish crime syndicate. Judge Christopher Hardy said: ¨They were working extremely hard to give the impression that they were people to be trusted. ¨This type of offence is extremely serious and undermines confidence in the business community. ¨The couple began cold-calling potential victims with fake business qualifications and CV´s. Danielle claimed to have been a director with Disney. They persuaded dozens of people to invest, including a farmer from Orkney in Scotland, who was left with nothing after buying £70,000 in shares. He was told the company would be ´the new Microsoft´ and his shares would increase in value from £3.50 to £12. The pair will be sentenced on December 7.
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