Boiler room fraudster jailed for further six years

A boiler room fraudster has been sentenced to a further six years in prison at Margate Magistrate’s Court after failing to pay a £2.2m confiscation order.

Rahul Patel was originally sentenced to seven years in prison at Ipswich Crown Court in July 2010 for conspiracy to defraud investors out of £10m through a boiler room scam.

The scam ran between 2003 and 2006 and pressurised people into purchasing valueless shares.

Patel was ordered to pay an order of £2.2m in compensation to victims of the scam.

The Serious Fraud Office has now confirmed Patel will serve an additional six-year sentence after the original seven years is completed.