Shares fraudster with business link to Loscoe is jailed

By The Newsroom
Published 12th Feb 2015, 15:13 BST
Pictured is Andrew Wright, 64, who was extradited back to the UK and jailed.Pictured is Andrew Wright, 64, who was extradited back to the UK and jailed.
Pictured is Andrew Wright, 64, who was extradited back to the UK and jailed.
A fraudster who ran a boiler room operation selling shares to fictitious companies has been locked up following a global hunt.

Derby Crown Court heard how Andrew Wright was one of the ringleaders in a series of frauds that saw him and his associates swindle £1.25m from around 180 victims.

The fraudsters were based in Spain, according to police, but set up a fake company called CGI, which used UK addresses including a business premises in Loscoe.

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Police explained that the fraudsters then cold-called hundreds of people to offer shares in the company at low prices, promising large returns on investment.

An investigation into the fraud was launched in 2009 but Wright fled to Malaysia from his home in the Javea area of Spain before he could be arrested.

A European Arrest Warrant was issued for Wright and he was detained at an airport in Amsterdam in May last year.

The 64-year-old was later extradited back to the UK and charged with conspiracy to defraud.