Probing the global scam network that’s robbed $1.2bn from investors – BBC Newsnight

More than £4 billion was stolen by fraudsters and cyber criminals in the UK last year. The police say it’s the crime people are most likely to experience.

A year long BBC World Service investigation has been probing a $1.2 billion scam, centred on the Milton Group, and tracking down the businessmen thought to be behind it.

The Group is an international network of companies, recently raided by Europol on suspicion of defrauding investors across the continent.

From their first phone call, victims can be directed into regulated companies or sometimes unregulated, offshore entities. Some victims who signed up to regulated brands within the Milton group were directed by their broker to place high-risk trades likely to lose the customer money and make money for the broker.

Simona Weinglass and Joe Inwood report.

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