British trio imprisoned for £85m boiler room fraud


Paul Gunter, Richard Pope and Simon Odoni receive a combined 43 years for conning a multitude of UK investors.

The three conmen will serve US sentences varying from four years to 25 years for their part in an investment fraud that left it's victims, some of whom were based in the UK, with a depleted bank account after purchasing worthless shares in what has been dubbed a 'boiler room scam' and one of the worst of it's kind.

Paul Gunter, 64, of London, received the longest sentence of 25 years while Simon Odoni, 56, was handed a 13 years and four months sentence. Richard Pope, 55, will serve four years and nine months.

Detective Inspector Kerrie Gower labelled the trio 'ruthless'. Gower said: 'These men are amongst the most arrogant, ruthless and destructive criminals the City of London police have ever dealt with and deserve every day they will spend behind bars.'

One victim suffered a near £200,000 loss and committed suicide. His widow, Andrea Goswami, was quoted by the BBC to have said: 'How could they be so arrogant to think they could get away with it, and have no conscience about it, and just to destroy people's lives in this way, just for money… for sheer greed. They say money's the root of all evil and they are evil for what they've done.'

She continued: 'Financially it's been devastating and it's a struggle. I'm never going to get my life back.'

Gunter, Odoni and Pope employed a network of cold-callers using false sales pitches to pressure at least 2,300 investors into purchasing shares. The money raised went on a luxurious lifestyle that included Ferraris, yachts, travelling via private jet and a 26-strong property portfolio.

They were charged with money laundering and wire fraud in 2009, Pope was found guilty of conspiracy to commit mail and wire fraud in 2011 while Gunter and Odoni were also found guilty in April, earlier this year.

JefferiesAnd the Best Place to Work in the global financial markets 2018 is...

Register for HITC Business News