A series of fraudulent activities which has defrauded the London Stock Market to the tune of 450 million euros has been uncovered and six people have been arrested , one in Elche , four in Barcelona and another in Madrid .
It appears that a phoney company , forged documents and stock market operations are all involved in a bid to increase the value of the shares of the phoney company .These shares were then sold at a profit .This was achieved without deposits and it was all profit from the sale of the shares .
Trust in the whole of the financial market is in a turmoil and this comes when faith in the stock market is also at a low .
Britains Serious Crime Squad has been investigating this fraudulent company since 2005 at which point it was suspended from trading on the ” Alternative Investment Market “, a sub-market of the London Stock Exchange , where it is expected the majority of the fraudulent activity took place .
This news was disclosed by the Spanish newspaper ‘El Pais ” who said that the investigating teams refused to name the people involved in the fraud .
