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Share Scams Warning
Over the past few years we
have been aware, as have many listed companies, that some of our
shareholders have received unsolicited phone calls or correspondence
concerning investment matters. Share fraud includes scams where investors
are called out of the blue and offered shares that often turn out to be
worthless or non-existent, or an inflated price for shares they own. These
calls come from fraudsters operating in 'boiler rooms' that are mostly based
abroad.
Shareholders are advised to be wary of such approaches and
while high profits are promised, those who buy or sell shares in this way
usually lose their money. The Financial Conduct Authority (FCA) has found
most share fraud victims are experienced investors who lose an average of
£20,000, with around £200m lost in the UK each year.
If you
receive an unsolicited approach then you should speak to your investment
adviser (if you have one) and consult the information for consumers on the
Financial Conduct Website at,
http://www.fca.org.uk/consumers/scams where
you can find out about the latest investment scams and also provides
guidance on appropriate steps to take to establish whether an approach is
legitimate, and contact details for reporting any concerns or suspicions.
You can also call the FCA Consumer Helpline 0800 111 6768
Wynnstay
Fraud Letter
Remember: if it sounds too good to
be true, it probably is!
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