Last Call For £1.4 Million Scam Victims To Claim Compensation

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Consumer watchdogs are calling for victims of a £1.4 million scam to come forward to claim compensation.

The Financial Conduct Authority has clawed back £1.5 million from the offenders and wants to pay investors who have lost money.

The money was taken from Samrat Bhandari, Muhammad Mirza and Paul Moore for their part in misleading investors about the value of shares in the now defunct Symbiosis Healthcare plc.

The trio were jailed by a judge at Southwark Crown Court for fraud offences last year.

Deadline for claims

So far, the FCA has identified around 200 victims of the scam, but investigators suspect there could be many more yet to come forward.

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Although the FCA has sent letters to their last known addresses, many have not responded.

This block in the inquiry means much of the £1.1 million earmarked as compensation is frozen.

“The FCA will check that everyone who contacts it is eligible for compensation, and then apply to the court to ensure that the money confiscated is paid as compensation. The court cannot hear any application on this issue after November 21 and so the FCA will need to have full details of such claims by no later than November 1,” said an FCA spokesman.

How to make a claim

Many of the scam victims of the boiler room operation were vulnerable and elderly, says the FCA, and some may have died since the fraud was uncovered.

If you think you may be a victim and you have not received any compensation, contact the FCA by:

  • Email to Alfreton.Mailbox@fca.org.uk or
  • Calling 0300 500 8082
  • Writing to The Operation Alfreton Team, Unauthorised Business Department, Financial Conduct Authority, 12 Endeavour Square, London E20 1JN

Include the following information with any message:

  • Name and the name of the person who invested if different
  • Postal and email addresses
  • A contact telephone number

“If you are acting on behalf of a victim or the estate of a deceased victim, you will need to provide evidence of your authority to act on their or their estate’s behalf, such as a signed letter of authority from the investor; a power of attorney; letter of administration or grant of probate,” said the spokesman.

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