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Balfour Beatty hit by share swindlers

NEWS

BALFOUR Beatty is the latest target of 'boiler room' scammers trying to con company shareholders into buying wor thless investments.

Company secretary Christopher Pearson has sent a warning to all shareholders after Balfour's share register was bought from Companies House by fraudsters based in Frankfurt.

A German firm has been calling shareholders and claiming to be connected with Balfour Beatty while offering them opportunities to buy shares in other companies.

Mr Pearson said: 'This Frankfurt operation can only be described as a boiler room.

A number of our shareholders have been contacted and offered some dubious 'opportunities' to buy shares, possibly in exchange for their existing holdings in the company.

'This raises the important question of the availability of share registers. It seems to me inappropriate that a share register is treated as a public document.'

Fraud investigators at the Metropolitan Police are now trying to crack down on similar scams by employing an officer to work full-time at Companies House, where the registers are kept.