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Following an investigation by the Financial Conduct Authority (the FCA), Charanjit Sandhu (DOB: 03/12/1989) of Grays, Essex, appeared recently before the City of London Magistrates Court charged with conspiracy to defraud, together with offences under the Financial Services and Markets Act 2000 and the Fraud Act 2006. 

The offences relate to the promotion and sale of shares through a succession of four alleged ‘boiler room’ companies, all of which traded from Docklands, London.  The FCA has already charged five other defendants as a result of the investigation in June 2016.

Mr Sandhu’s case was sent to Southwark Crown Court.

The FCA cannot provide any further comment or information at this time.

Notes to editors

1. Following an investigation by the Financial Conduct Authority Michael Nascimento (DOB: 28/06/1977); Hugh Edwards (DOB: 13/07/1982); Stuart Rea (DOB: 12/02/1968); Ryan Parker (previously known as Ryan Sell DOB 26/11/1992) and Jeannine Lewis (DOB: 15/09/1967), all of whom live in London and the South East, appeared before Southwark Crown Court in June 2016, charged with conspiracy to defraud, together with offences under the Financial Services and Markets Act 2000 and the Fraud Act 2006.
2. On 1 April 2013, the FCA became responsible for the conduct supervision of all regulated financial firms and the prudential supervision of those not supervised by the Prudential Regulation Authority (PRA).
3. The FCA has an overarching strategic objective of ensuring the relevant markets function well. To support this it has three operational objectives: to secure an appropriate degree of protection for consumers; to protect and enhance the integrity of the UK financial system; and to promote effective competition in the interests of consumers.
4. Find out more information about the FCA.