Crime Solicitors

The last of five conspirators convicted of defrauding investors in boiler room scams based in Ireland and Spain was jailed for three years on Monday (14/04/14) at Southwark Crown Court.

The Telegraph reports that John Curtin, 38 – together with American Brian James O'Brien and his British wife Lynne Jane D'Albertson, plus Jane D’Albertson’s son, Damien Rodney Smith, and James Pye – defrauded elderly investors out of more than £4 million in the scam.

Southwark Crown Court heard that Curtin specifically targeted pensioners and used high-pressure sales techniques to defraud them of their savings by persuading them to invest in shares with little or no value.

In just three months, the gang netted £4m from the scam through their global business, Secure Trade and Title Ltd – a company based in the UK, which received any profits made from the boiler room scams overseas.

Curtin worked as a sales manager for Secure Trade and Title Ltd between 2005 and 2007, operating in Limerick in Ireland and with Damien Smith in Barcelona. He sold shares for a company called DML Corporation, based in Ireland – and also for two boiler room scams in Spain under the company names Black and White Investments and Cardinal Securities.

The gang scammed the elderly investors into buying company shares by cold calling them from overseas call centres set up and managed by James Pye. The court heard how many of the elderly investors were happy to receive the calls offering them investment opportunities, as they were retired or had money to invest.

Sentencing Curtin at Southwark Crown Court, Judge Peter Testar said:

“When they got cold calls from personable people in Barcelona or Ireland – from people like you – they were happy to receive those calls.

“In fact, your technique was to befriend them before moving on to the selling and you were also involved in the research of those shares to be sold to investors.”

Judge Testar said the impact of the boiler room scam on the lives of those Curtin and his accomplices had tricked had been “considerable”.

The Serous Fraud Office said:

“Boiler rooms trade in deception and ruin lives.

“They misrepresent investment opportunities to prey on people who aspire to improve their lives through investment.”

Curtin’s accomplices were jailed in 2012 for the fraud.

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