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Two more people jailed for laundering money to facilitate boiler room operation

The man and woman were part of a group who laundered money stolen from victims.
Victims thought they were investing in legitimate ventures, but were instead paying into the fraudsters’ bank accounts.
Both of them helped launder over £1.2m which had been stolen from victims. 

On Wednesday (20 June 2018) a man and woman were sentenced at Luton Crown Court for laundering money through their bank accounts, in order to help facilitate the operations of four ‘boiler room’ operations. 

After an investigation by the City of London Police’s Fraud Squad, both of them were found guilty of money laundering. Nadirah Peters, 39, of Lawn Road, Southampton and Carl Maude, 57, of Kennet Drive, Milton Keynes, were sentenced to 13 months in prison each. 

The Fraud Squad’s investigation began after a journalist from BBC Radio 4’s You and Yours programme was cold called by one of the boiler rooms and began her own investigation into the operation. The journalist then referred the case to the Fraud Squad. 

As well as Peters and Maude, the Fraud Squad’s investigation also uncovered five other men who were involved in laundering the stolen money, and they were sentenced in February this year. 

Peters, Maude and the other five men opened bank accounts for fake businesses and laundered a total of £1,249,309, which had been stolen from around 180 victims who thought they were investing in gold or broadcast airtime. 

Between 1 January 2013 and 31 December 2013, Maude received approximately £107,680 through his bank account, while Peters received around £109,137 between 25 April 2013 and 31 January 2014. 

The City of London Police’s Asset Recovery Team has already commenced confiscation proceedings into the five men sentenced earlier this year, and they will now include the money laundered by Peters and Maude into this to ensure those involved don’t benefit from the proceeds of crime.

Detective Constable Joby Reeve, from the City of London Police’s Fraud Squad, said: 

“Despite claiming they were unaware that the money they laundered was from a boiler room operation, our investigation has shown that Peters and Maude knew all along.
“People should always be wary when they receive a cold call and never take up offers of investments on the spot. If you have been a victim, it’s also important that you are cautious of any further cold calls you receive, as fraudsters may claim they are aware of your previous investments and can help you get back the money you have lost. 

“On our website there is plenty of information about investment fraud, plus advice for the public on how to avoid falling victim to this type of fraud.” 

If you think you have been a victim of investment fraud, report it to Action Fraud online or by calling 0300 123 2040.

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